The letter was signed by nearly 2,500 national, state, local, and tribal organizations and governments. Monarch Housing Associates is proud to be one of the seventy-five New Jersey organizations that signed on to the letter.
The letter reads in part, “We are thankful that Congress has significantly increased investments in affordable housing and community development programs in fiscal year (FY) 2018, and we urge lawmakers to work together to ensure this trend continues by providing these programs with the highest funding levels possible in FY 2019.”
The letter points out the critical need for increased funding for affordable housing and community development.
“Today, one in four renters in America is spending more than half of their income on rent, and homelessness rates are rising in many communities across the country as growing numbers of people are unable to afford a place to call home. Housing costs are rising faster than wages, and they are well beyond what is considered affordable to fixed income households. Our nation’s affordable housing stock is deteriorating, and the supply of affordable and accessible homes and rental assistance has not kept pace with demand.”