In many respects, they are there to protect the consumer and keep them from being homeless in the event of default. 

A citywide homelessness action plan was recently approved by the city council that places a 200 person safe land/lot location on the outskirt of my subdivision. 

There's hundreds of thousands of people and of course there's every type of person from homeless drug addicts to mult-millionaires.

This hard shock could even force a tenant to be homeless.

He is willing to purchase and put down at least 150k on a 500k+ home, less if we're lucky. 

-Landlords say they're still waiting on more than $12M in rent relief-D.C. may benefit from Biden Administration’s Push for Cities to Get Serious About Homelessness-Single-family rents see biggest jump since 2005.

Homelessness and increasing rents threaten everyone's quality of life.  

I use Zillow and pretend to be a renter and figure out what's the minimum rent I have to pay to not be homeless.

Explain that you must take owner occupancy per the terms of your mortgage and you will be homeless in 45 days if you can't move into this property.

As builders/investors, sure this may open the door for additional opportunities, but in the long game, this bill will do little to nothing to resolve CA housing/homeless issues.