California Gov. Gavin Newsom has often touted Homekey as one of his administration’s most ambitious attempts to tackle the state’s notorious homelessness and housing crisis. But the $3.8 billion initiative the Democratic governor launched in 2020 is plagued with a lack of oversight and thousands of homes that still haven’t been finished, according to a damning investigation by CalMatters published Thursday. Gov. Gavin Newsom. Nathan Posner/Shutterstock Homekey involved giving money to local governments so that they could convert motels and other structures into housing for the homeless. It was an unprecedented attempt to force cities into the real estate world, where they took everything from inns to sorority houses to a dentist’s office to help solve the state’s housing shortage. “What we’re doing here today is multiples of what any state in American history has committed to address this crisis of homelessness,” Newsom said at a 2021 press conference.…