NMHC and NAA are pleased to see the introduction of the YIMBY Act, legislation that will remove barriers to housing development and help address the nation’s housing affordability crisis if signed into law.
The rental housing industry strongly supports the passage of the YIMBY Act, sponsored by a bipartisan and bicameral group of lawmakers, and thanks Sen. Brian Schatz (D-Hawaii), Sen. Todd Young (R-Ind.), Rep. Derek Kilmer (D-Wash.), and Rep. Trey Hollingsworth (R-Ind.) for their leadership on the issue. This critical legislation will encourage localities to eliminate discriminatory land use policies and remove barriers that prevent needed housing from being built around the country by requiring Community Development Block Grant (CDBG) recipients to report periodically on the extent to which they are removing discriminatory land use policies and implementing inclusive and affordable housing programs.
The need for additional housing is apparent and there is no doubt communities across the country are facing serious housing affordability challenges – especially after more than a year of pandemic-related financial distress. NMHC and NAA research illustrates the need for increased housing development, having found that we need to build 328,000 apartments every year between 2016 and 2030 to meet the nation’s housing needs. However, the apartment industry currently faces significant barriers to new apartment construction, development and renovation.
On behalf of the apartment industry and the 40 million Americans who live in apartment homes, NMHC and NAA look forward to continuing to work with lawmakers in both parties to move forward on legislation aimed at achieving real solutions to the housing affordability crisis.