"For several years now we have documented the growing 'renter by choice' trend--households opting to rent even though they could afford to buy," says Clarine Nardi Riddle, NMHC/NAA senior vice president for government affairs, who says by-choice renters include empty nesters and young professionals.

"Despite the fact that nearly 40% of renters surveyed by Fannie Mae in 2000 said that buying a home was not an important priority," she continues, "our Federal housing policy continues to focus almost exclusively on home ownership. This outdated approach to housing policy represents a missed opportunity. It overlooks the need for apartments to help solve several modern-day problems, including suburban sprawl, urban decay, the affordable housing crisis, and even the housing of our aging parents."

The group drafted what it says are the five key principles of a balanced housing policy, which they will present to policymakers. The group also reiterated its stance against what it calls forced access by telecommunications companies that want to provide service to buildings without consent of apartment owners. Regarding taxes, the group says it will support tax legislation that decreases both capital gains taxes and depreciation recapture rates because its officials say present laws discourage investment in new apartment properties and modernization of older apartment communities.