Assemblywoman Jessica Ramirez (D-32) introduced two new bills last week specifically intended to address housing shortages in Jersey City and Hoboken, her office announced.
By John Heinis/Hudson County View
“Affordable housing remains the number one issue in my district, and the need for action has never been more critical,” she said in a statement.
“We have taken bold, decisive steps to curb the housing crisis, provide much-needed relief to renters, and create sustainable solutions for future generations of New Jerseyans.”
The package now includes six pieces of legislation that offer a multi-pronged approach to attacking the housing crisis from all angles.
A-5451 seeks to curb large hedge funds and institutional investors from purchasing single-family homes. Institutional investor purchases of homes have been on the rise, and it is contributing in part to the nation’s housing shortage.
The bill directly targets these investors, who have been inflating housing prices by acquiring large numbers of affordable properties to flip or rent at rising rates, and outbidding working-class families looking to purchase a home.
“Corporate investors buying up single-family homes and renting them at skyrocketing prices has been a driver of the housing crisis,” Ramirez explained.
“This bill will stop these predatory practices and protect New Jersey families from being priced out of their communities.”
Additionally, A-5454 incentivizes moderate-income housing development for the growing number of families who make too much to qualify for public housing, but also cannot afford the luxury buildings popping up across New Jersey.
“I always say our district is a Tale of Two Cities: It’s time to strengthen the middle class and build housing that works for the majority of residents,” Ramirez added.
The other bills in the package address both housing affordability and strengthen tenants’ rights.
A-5453 would establish the Landlord Registration and Tenant Protection Act, a critical tenant protection measure that includes provisions to strengthen landlord registration, ensure tenant protections, and promote the rehabilitation of substandard housing.
A-5452 is a proposal to give New Jersey residents priority for affordable housing opportunities within the state.
This measure ensures that families who have lived and worked in the state have greater access to housing opportunities, supporting local communities and fostering long-term stability for residents.
The most recently introduced bills address monthly fees which currently have no restriction under State law.
A-5744 would put a 10% cap on certain HOA fees, which have seen a steep rise since COVID-19, and A-5747 would limit recurring monthly fees that landlords place on tenants.
Referring to the latter, Ramirez says that this is a common way she has seen landlords try and skirt around rent increases.
“I have heard from tenants that say their base rent didn’t necessarily rise, but ancillary fees such as amenity or parking fees increased, and these fees are not included in the consideration of unconscionable rent increase,” the assemblywoman concluded.
“No matter where the money is going, it is still leaving the pockets of tenants. It makes sense to include these fees when calculating rental increases.”
 introduced 2 new bills last week specifically intended to address housing shortages in Jersey City and Hoboken.){kind=link}
Imagine what you could get from someone who does the job when election day isn’t 11 days away.
Someone has to pay for all the free stuff politicians love giving away.
That makes the cost of living in Jersey City and Hoboken less affordable for those getting stuck with the bills.
It’s funny how all these new buildings are going up and are supposed to be part of affordable housing, however know one who meets the affordable housing requirements or gets an apartment in these buildings. These new residential buildings are supposed to have a certain amount of apartments listed as affordable housing and rent these apartments to the individuals who meet the affordable housing requirements, however they found a loop hole on how not to lease to them. I am putting an article together with all the facts, on how these buildings get their grants and permits, to the tactics on how they make it nearly impossible to for anyone to get these apartments under the affordable housing program or criteria. I pray a news media outlet picks up my article.
What about property taxes? It isn’t only renters that need relief! Hoboken taxes have been going up 8 to 10% a year. And that isn’t even covering the Mayor’s mismanagement over the last 8 years! He is playing games with the budget to hide his incompetence and favoritism. Would have been worse if they got the $250 million highschool approved.
While NJ is a national leader in the exodus of residents, somehow housing issues have escalated spiraling increases as official numbers show an increase.
How could that happen? While NJ sees economic flight, government officials have been “importing” illegal aliens. This drives up the cost of housing across the state. Of course, they’ll never breathe a word about any of this.
https://njbmagazine.com/njb-news-now/more-people-leaving-nj-than-entering-according-to-2-new-moving-reports/
“For the seventh consecutive year, more residents moved out of New Jersey than any other state, with the state having a 67% outbound migration.”