According to AFP, the bill (A2168/S1566), sponsored by Senators Raymond Lesniak & Barbara Buono, would empower the State to borrow as much as a billion dollars, or more, without voter approval in order to turn foreclosed homes into taxpayer-subsidized “affordable housing” units.  AFP sees this as a move that would lead to increased crime, drive up property taxes and further decimate the value of homes already battered by the burst housing bubble.

Listen to Jim's conversation with Lonegan.