On Monday, the Assembly Housing Committee met to hear testimony from invited guests regarding the impact, factors, and potential solutions of rising rental costs throughout New Jersey.
Among the organizations invited to provide testimony included the Pew Charitable Trust, the Princeton Eviction Lab, NJ Apartment Association, NJ Builders Association, Housing and Community Development Corporation of New Jersey, Community Investment Strategies, and Family Promise of Hunterdon County. The testimony highlighted the need for:
- Increased supply for moderate and low income residents
- Municipal Zoning Reform, such as reduction in parking and increased density
- More new building beyond affordable housing obligations
- Need for rent control
- Insurance Issues – both cost increases and availability
- Supply Chain Issues
There were no proposals or legislation that were acted on. However, there could be in the future and we will advise accordingly.
Contact: Paul Penna, Senior Legislative Analyst, ppenna@njlm.org, 609-695-3481, x110.