The National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) today released the multifamily industry’s policy priorities for 2019-2020.
It’s no secret that a growing number of families across the income spectrum are struggling to find housing they can afford. As a country, we need comprehensive, proactive policy solutions that can help to mitigate this housing affordability crisis. As such, NMHC/NAA have made this the lodestar of our advocacy efforts in 2019-2020.
“We’ve identified the issue of housing affordability as a top priority for 2019 because it is wide-reaching and impacts communities around the country,” said Bob Pinnegar, NAA President and Chief Executive Officer.
“There is a growing concern at all levels of government about how to best deal with housing affordability issues,” said Doug Bibby, NMHC President. “It’s incumbent upon us as an industry to do our utmost to work with lawmakers to find holistic policy solutions that provide the housing our nation needs.”
One critical driver of the housing affordability crisis is the cost of local, state and federal regulations. Recent research has found that such regulations account for an average of 32.1 percent of rental housing development costs – driving up the price tag to create adequate housing options for all incomes. In 2019 and 2020 NMHC/NAA will advocate for a reduction of unnecessary, harmful barriers to the development of more housing and preservation of existing apartments.
In addition to the cost of regulation, there are many other policies and programs that impact affordability. Getting housing finance reform right is a critical component of addressing housing affordability. In addition, the Section 8 Housing Choice Voucher Program is an important tool designed to assist families in need of affordable housing. We are working on proposals that will enhance the Section 8 federal housing program and incentivize additional private sector participation.
In addition to housing affordability and regulatory reform, NMHC/NAA will also focus on other critical federal legislative and regulatory issues. These include the ongoing implementation of the 2017 tax law, clarification of fair housing rules, rent payments in credit scoring, data security standards, federal flood insurance reauthorization, construction and development incentives, accessibility litigation and music licensing reforms.
About NAA and NMHC
For more than 25 years, the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) have partnered on behalf of America’s apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of 160 NAA state and local affiliated associations, NAA and NMHC provide a single voice for developers, owners and operators of rental housing industry. Apartments and their 39 million residents support more than 12 million jobs and contribute $1.3 trillion to the economy.