FOR IMMEDIATE RELEASE
Tuesday, April 11, 2023
Conservative Free Market Solutions to Help Solve
the Arizona Housing Crisis Advance through the Legislature
PHOENIX, ARIZONA— Senator Steve Kaiser is championing a series of bills aimed at increasing the Arizona housing supply by using free market principles to provide real tangible relief for young families and senior citizens struggling with soaring prices.
Together, HB 2536, SB 1161 and SB 1163 would cut the bureaucratic red tape that's responsible for creating barriers and slowing home construction. More specifically, these bills would limit government control and speed up home-building timelines for cities and towns, while protecting public input and local zoning regulations. These bills would also provide the market with the necessary tools to create more single room occupancy housing for seniors, where tenants have a furnished bedroom with a shared kitchen and bathroom, as well as accessory dwelling units, like 'mother-in-law suites' or 'casitas.' These are easy solutions for those living on fixed incomes and struggling to keep a roof over their heads.
Currently, there's a national shortage of approximately 6.5 million homes. In Arizona, 270,000 additional homes are needed to meet the demands of our residents. This deficit is directly responsible for rising prices. In fact, the average home price in Arizona is $470,000, which is 20% higher than the national average. Furthermore, Arizona's rental market is 90% occupied, which is at a 40-year high and contributing to monthly rent payments that are 18% higher than the national average.
"I'm determined to provide immediate relief for those struggling to make their rent payments or pursue the American dream of home ownership within the state of Arizona," said Senator Kaiser. "After months of meetings and collaboration with stakeholders, developers, residents, local planning and zoning representatives, as well as my colleagues in the Legislature, I'm convinced the solutions to our housing crisis lie in deregulation without gimmicks or subsidies. We have an issue of supply and demand, and my proposals lean heavily on free market principles that will help increase inventory and drop prices."
Senator Kaiser's housing bills have passed out of committees in both the House and the Senate and will likely be amended further before final votes on the floor in the coming weeks.
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For more information, contact:
Kim Quintero
Director of Communications | Arizona State Senate Republican Caucus
kquintero@azleg.gov