They hate you and want to replace you with a more reliable voting block, this is about power above and beyond just money. It's not enough to just import voters and give them free money, they want to actively hurt the native Californian and drive them out to make room.
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That 40% number is unacceptable to them, if you belong to a group that is that unreliable then you are to be persecuted and driven out.
Taking your money and giving it to illegal immigrants to buy homes would be just another humiliation ritual, the cost to society and explosion of home prices is a feature not a bug, they hate you and want you to know it.