On November 21, 2024, a group of bipartisan leaders on Capitol Hill announced the launch of the Yes In My Backyard (YIMBY) Caucus, aimed to "promote the development of affordable housing units nationwide."
In a statement applauding the launch, National Apartment Association (NAA) President and CEO Bob Pinnegar said that: “A critical shortage of apartment homes at all price points continues to impact communities across every corner of our country. Following an election where housing was at the forefront of conversation, now is the time for bold, bipartisan action. NAA applauds the formation of the Yes In My Backyard (YIMBY) Caucus and looks forward to collaborating on sustainable solutions that boost housing supply and improve affordability for generations of renters to come.”
Deeper Dive
NAA has long supported the YIMBY Act as a critical tool to sustainably address our nation's longstanding housing affordability challenges. Last May, the bill passed the House Financial Services Committee by an impressive 48-0 vote.
The YIMBY Act would help to eliminate barriers to development by requiring Community Development Block Grant (CDBG) recipients to report periodically on the extent to which they are removing discriminatory land use policies and promoting inclusive and affordable housing. Exclusionary land use policies like zoning and density restrictions, onerous parking requirements and other development regulations exacerbate both the housing supply and affordability crisis.