Press Release brought to you by New Jersey Apartment Association

The New Jersey Apartment Association Responds to the National Low Income Housing Out of Reach Report

03/11/2013

The National Low Income Housing’s annual “Out of Reach Report,” once again, states what we already know: the Garden State is an expensive place to live.

All New Jersey residents deserve to be able live close to their jobs, their families, and their communities of choice. But despite the artificial portrayal of housing costs in this report, rental apartments remain the most affordable option available in an otherwise expensive housing market.

It’s time to stop exaggerating our problems and misleading the public in this annual media stunt, which compares minimum wages with average rents and unsurprisingly finds them to be in imbalance.

Instead, we should focus on addressing the reckless policies that have driven out affordable housing construction and made existing apartments more expensive. We have the resources and the capacity to create more affordable housing in this state (both rental and for sale), but what we don’t have is the will to reduce overregulation and encourage development suitable for all income levels.

Specifically, we have been working closely with legislators on both sides of the isle to advance legislation that would implement a recommendation of Lt. Governor Kim Guadagno’s bi-partisan Red Tape Review Commission to eliminate duplicative registrations of apartment units that annually boost rents in some municipalities by more than $100.

Instead of issuing vacuous studies and self-serving media events, we call upon the Housing and Community Development Network to focus on advancing real solutions for providing the multi-billion dollar investment that is required annually to maintain a broad supply of affordable rental housing throughout the State of New Jersey.

New Jersey offers some of the best and most diverse housing opportunities in the country, and finding solutions to the real cost drivers of housing merits a genuine examination that can lead to real policy solutions.  Unfortunately, this so-called study does little more than grab headlines.

About NJAA

Founded in 1986, the New Jersey Apartment Association (NJAA) is a statewide organization of apartment owners, managers, builders, developers and those involved in allied industries. The Association is designed to advance and protect the welfare of the apartment industry in New Jersey. NJAA represents managers and owners of more than 170,000 rental units throughout the state as rental housing is home to over one-third of all New Jersey families. NJAA also serves its membership’s interest on a national level through its affiliation with the National Apartment Association (NAA). For more information about apartment home living in New Jersey along with NJAA events and activities visit www.njaa.com.

 

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03/11/2013 - 09:41

Source

New Jersey Apartment Association

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