This episode presents an analysis of California Assembly Bill 11 (AB 11), also known as "The Social Housing Act," designed to address California's housing crisis. It thoroughly examines the bill's proposed framework for establishing the California Housing Authority (CHA), defining "social housing" as publicly owned, mixed-income housing removed from market speculation. The analysis details the potential benefits of AB 11, such as increasing affordable housing supply and strengthening resident protections, while also identifying significant drawbacks and challenges. These challenges include potential market distortions, concerns regarding financial sustainability, operational complexities of a new state bureaucracy, and legal ambiguities within the bill's language. Ultimately, the text evaluates the financial implications for California taxpayers and offers recommendations to mitigate future problems, concluding that while AB 11 is a bold response, its success hinges on resolving its inherent complexities and ambiguities.