Abury Park Press Housing "Crisis" Editorial
The Asbury Park Press has an editorial today about the lack of affordable housing in NJ. The paper offers a few solutions that would probably be found to be unconstitutional if enacted or at least ineffective. I don't think the Asbury Park Press understands that people sometimes have to rent or should rent and that they don't have a right to a single family home.
Snip...
"The coalition hopes to make an additional 100,000 affordable housing units available by 2015. That's a modest goal, well below the need — estimated at anywhere from 450,000 to 1 million units — and only slightly higher than the state's official target of 75,000 units in the next nine years.
The median price of a single-family home in central Jersey was $394,100 in the second quarter of this year — up 22.8 percent from a year earlier, according to the National Association of Realtors. That's more than double the median price of $188,200 just five years ago, and nearly double today's national median of $208,500. Growing numbers of people — including a large swath of the middle class — can't afford those prices.
The coalition wants to increase funding for the state rental subsidy program, change Council on Affordable Housing regulations to increase affordable housing obligations, and create a statewide "support system" to help residents guard against foreclosures and assist them with refinancing and home repairs. The coalition is working on a more detailed plan it will present to the next governor and Legislature."
Snip...
"The coalition hopes to make an additional 100,000 affordable housing units available by 2015. That's a modest goal, well below the need — estimated at anywhere from 450,000 to 1 million units — and only slightly higher than the state's official target of 75,000 units in the next nine years.
The median price of a single-family home in central Jersey was $394,100 in the second quarter of this year — up 22.8 percent from a year earlier, according to the National Association of Realtors. That's more than double the median price of $188,200 just five years ago, and nearly double today's national median of $208,500. Growing numbers of people — including a large swath of the middle class — can't afford those prices.
The coalition wants to increase funding for the state rental subsidy program, change Council on Affordable Housing regulations to increase affordable housing obligations, and create a statewide "support system" to help residents guard against foreclosures and assist them with refinancing and home repairs. The coalition is working on a more detailed plan it will present to the next governor and Legislature."
posted by Little_Silvered at 10:40 AM
1 Comments:
Ed,
In (probably undeserved) fairness to the Press, there is ample mention of rental units.
This isn't really part of the bubble topic, but access to affordable housing is exascerbated by the bubble.
A simple question, how are the employees at all the Targets, WalMarts and Home Depots affording to live in Monmouth County?
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