NJ Gubernatorial Candidate Proposes Moratorium on Corporate Real Estate Purchases to Tackle Housing Crisis

Montclair Mayor Sean Spiller addresses New Jersey's housing crisis in a recent interview. He argues that corporate entities are significantly contributing to the problem by buying up properties, making it difficult for ordinary residents to afford homes. "They're all bought out by LLCs, venture capitalists," Spiller stated, emphasizing the need for a moratorium on such purchases. He proposes a temporary halt to allow individuals a fair chance in the housing market. Spiller also discussed his plans to invest in workforce, senior, and veteran housing, creating a more balanced approach to development. His campaign focuses on community-driven solutions, contrasting with the current trend of luxury developments that displace residents. This interview offers a valuable perspective on a pressing issue affecting many New Jersey communities.