Senate Republicans in Arizona have successfully pushed through a bill aimed at addressing the state's housing shortage and the consequent high prices that are hindering many Arizonans from achieving homeownership. The legislation, known as SB 1162, was sponsored by Senator Janae Shamp and is set to streamline the homebuilding process by cutting unnecessary government red tape.
Senator Shamp highlighted the importance of the bill, stating, "Every hardworking citizen within the state of Arizona should be able to afford a home in a safe community." She emphasized the need to tackle the housing shortage crisis and expressed the Republican commitment to finding solutions. The Senator also recognized the collaborative effort with Representative Matt Gress in crafting the legislation.
The bill aims to expedite the construction of homes by enforcing reasonable timelines on local governments for zoning approvals. This move is expected to increase the supply of homes and subsequently drive down prices. Additionally, cities and towns will now be required to conduct housing needs studies every five years to better address housing shortages and demands.
In explaining the rationale behind the bill, Senator Shamp pointed out the challenges faced by homebuilders due to obstacles imposed by local governments, leading to delays and increased costs for homebuyers. She stressed the need to remove such barriers and allow the free market to respond effectively to the housing needs of Arizonans.
The housing shortage issue is not unique to Arizona, with a national shortage of approximately 7.3 million homes. In Arizona alone, an additional 270,000 homes are needed to meet the current demands of residents. The average home price in the state stands at $430,000, which is 20% higher than the national average.
SB 1162 is set to take effect 90 days after the adjournment of the legislature, signaling a step towards addressing the housing crisis in Arizona. For further information, individuals can reach out to Kim Quintero, the Director of Communications at the Arizona State Senate Republican Caucus.
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