News Updates
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The Rise in Institutional Ownership of Residential Properties in NJ
A new report from the NJ Department of Community Affairs explores the statewide trend in institutional home ownership and identifies communities where one‐ to four‐family housing stock is rapidly shifting to corporate ownership. It also examines the impact of the rise in institutional homeownership on changes in residential sales prices and sales volumes. Read the report on institutional residential property ownership. Keep reading »
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Affordable Housing Ballot Measures Get Approval Across the Country
Affordable housing measures were on midterm election ballots in dozens of localities across the country. It’s a sign of the pain people have been feeling as a historic housing shortage has pushed rents and home prices to record highs. A number of cities just approved hundreds of millions of dollars in new spending to do something about it. Learn more about what places are doing to increase affordable housing stock. Keep reading »
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NJ Renters Struggle to Find Safe, Affordable Housing
Immigrants and renters of color in Passaic, Elizabeth and Perth Amboy continue to struggle to afford rapidly rising rents and live in unsafe environments, but largely did not apply for rental assistance, according to a survey released Tuesday of nearly 400 tenants conducted by the immigrant advocacy group, Make the Road New Jersey. Read more about the struggle for safe housing. Keep reading »
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Towns Sue to Bring Back COAH
Mahwah, Montvale and 11 other municipalities spanning New Jersey have sued Gov. Phil Murphy, alleging he violated the Fair Housing Act and demanding the administration bring back the defunct Council on Affordable Housing, which they said would protect towns from “runaway development” and speed creation of affordable units. But affordable housing advocates said it was odd for the towns to want to revive an entity that they often stonewalled, prompting lawsuits to get them to meet their housing obligations. Read about the lawsuit. Keep reading »
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Half of COVID Relief Aid to Prevent Homelessness Goes Unused in New Jersey
Less than half of New Jersey families who secured two types of coveted COVID-19 assistance have been able to actually use them. Landlord discrimination or misunderstanding, unbending bureaucracy and skyrocketing rent prices are among the reasons these vital programs aren’t working as well as intended, housing administrators say. Find out about the barriers renters experience when trying to use relief money. Keep reading »
