Paul Kealey Focuses on NJ’s Affordable Homes Crisis
Paul Kealey NLIHC’s Chief Operating Officer spoke at the July 13, 2016 Congressional Reception about the importance of housing and his support for No Housing Cuts.
“This day is all about New Jersey,” says the National Low Income Housing Coalition’s COO Paul Kealey.
“Those who spend over half of their income on housing have nothing left for food, healthcare, and medicine and they are one emergency away from homelessness.”
Over 350 advocates traveled to Washington, DC to meet with the New Jersey Congressional delegates and let them know that there should be No Housing Cuts and the need for investments for housing and homelessness prevention.
Advocates urged legislators to oppose spending cuts to programs that reduce access to affordable homes for NJ residents.
Paul spoke about the national and NJ affordable homes crisis:
- 10.4 million extremely low income households living below poverty in America
- 3.2 million rental units affordable and available to those 10.4 million
75% extremely low income households spend more than 1/2 of income on housing
- 500,000 homeless on the streets every day in America
According to Out of Reach, in order to afford a modest two-bedroom home in the Garden State, a family must earn an hourly wage of $26.52, far more than the state’s average hourly wage of $16.98 or the $8.38 minimum wage.
As the Fair Market Rent (FMR) in the state for a two-bedroom rental is $1,379, a family must earn $55,152 annually in order to make it affordable.
Using that formula, a minimum wage worker would have to work 127 hours per week year-round to be able to afford a two-bedroom home at FMR.
New Jersey is the fifth most expensive state to rent a home; only Hawaii, California, New York, and Maryland.
The video was taken by Jay Everett of Monarch Housing.
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