Governor Murphy Impresses New Jersey By Signing Laws To Reduce Housing Costs

Governor Phil Murphy recently signed a package of bills that aim to reduce the cost of housing in New Jersey...

Photo byPhil Murphy via Wikimedia Commons

Governor Phil Murphy recently signed several bills that aim to reduce the cost of housing in New Jersey. According to the Governor, the newly signed legislation will make New Jersey a more affordable place to live, work, and raise a family.

“New Jersey families should not have to live paycheck to paycheck struggling to make ends meet due to the overwhelming cost of housing. We need to fine viable solutions to New Jersey’s affordable housing shortages,” said Assemblyman Benjie Wimberly. “Investing in programs that increase affordable housing options for New Jerseyans will help combat housing instability and reduce the number of residents at risk of homelessness.”

“Owning a home is a key component of the American Dream and critical to creating generational wealth,” said Senator Singleton, Chair of the Senate Community and Urban Affairs Committee. “But, for so many, saving enough for the necessary down payment has made homeownership unattainable and those that do manage to buy a home are often one catastrophe away from losing it. By providing financial assistance to first-time homebuyers and expanding access to foreclosure intervention, we can make homeownership more affordable, accessible and most importantly, sustainable.”

“The three housing bills signed today provide breakthrough opportunities for citizens to establish roots and enrich communities in the great state of New Jersey," said Lt. Governor Sheila Oliver. "As the most densely populated state in the U.S., the need for quality, affordable housing for low, and moderate-income residents and opportunities for first-generation homebuyers is a priority. Stable housing provides a stable workforce for business expansion and economic vitality. With homeownership and affordable housing, comes thriving communities, strengthened family bonds, and stable homes for children."

What do you think? Leave a comment with your thoughts. And if you think more people should read this article, share it on social media.