ADVISORY/California's Continuing Housing Challenges.

News Editors/Real Estate Writers

ADVISORY... for Wednesday (Sept. 10)

--(BUSINESS WIRE)

    Who: Julie Bornstein, Director California Department of Housing
         and Community Development

    What: A presentation on the shortage of affordable housing, a
          major economic threat facing California.

"The most basic of economic theory tells us that when demand remains
strong and grows, while supply is constrained, prices will rise."
      Julie Bornstein, Director for the California Department of
                  Housing and Community Development.

    When: September 10, 2002 -- 12:00 p.m. - Luncheon begins
                             -- 12:30 p.m. - Speaker

    Where: California Chamber of Commerce
           Amy Orr, Chamber Representative
           1215 K Street, Suite 1400
           Sacramento, California 95814
           916/444-6670

Why: California's workforce is giving up the dream of homeownership. Teachers, firefighters, municipal workers, and retail clerks are having difficulties finding affordable housing.

California's homeless population now includes the working poor, families, and seniors. Both urban and rural commercial districts are impacted by these growing populations.

The farm worker population moves throughout the State working to support the agricultural industry. Most of the farm workers live in substandard, overcrowded conditions.