Following is a statement from Doug Culkin, CAE, President and CEO of the National Apartment Association, on the MacArthur Foundation’s 2016 “How Housing Matters” survey:
“With four of five Americans believing housing affordability continues to be a problem, this study underscores the need for political leadership and results‐driven policies to meet the demand for apartment housing.
America’s affordability problem is growing. The supply of rental apartments can’t meet the demand – between 300,000 to 400,000 apartments must be built annually to keep pace, but only an average of 208,000 were built between 2011 and 2015.
Compounding this challenge is stagnancy in incomes. Median rental household income is almost unchanged from 35 years ago on an inflation‐adjusted basis.
Finally, costly and cumbersome regulations at all levels of government create barriers to the development of new rental housing and ultimately drive rents above what many families can afford.
We commend the MacArthur Foundation for reinforcing that Americans want lawmakers to act now to address our nation’s housing affordability challenges.
Lawmakers must recognize that the most viable solution requires a strong partnership between government and the private sector. The National Apartment Association continues to work to enable our members to provide apartment homes that meet the needs of all Americans.”
The National Apartment Association (NAA), America’s leading voice for the apartment housing industry, provides its members with the best range of strategic, educational, operational, networking and advocacy resources they need to learn, to lead and to succeed. As a federation of nearly 170 state and local affiliates, NAA encompasses over 72,000 members representing more than 8.4 million apartment homes globally. NAA’s purpose is to enable every single one of its members to fulfill his or her professional goals with great competence, speed and the highest standards of ethics. To learn more, visit www.naahq.org.