Ward 8 Alderman Derek Thibeault delivers his remarks during the Aug. 13 press conference hosted by the New Hampshire Democratic Party. Courtesy photo/NHDP

NASHUA – Since graduating from Plymouth State University five years ago, Samantha O’Laughlin has been trying to move out of her parents’ house.

“I go to tour an apartment or two and realize the rent would eat up a huge chunk of my paycheck,” said O’Laughlin, a candidate for state representative, during the Aug. 13 press conference hosted by the New Hampshire Democratic Party. “I open Zillow and I see a house that costs more than half a million dollars.”

She said that throughout the Granite State, monthly rents have climbed to $2,100.

“Think about that for a second, for young people like myself, paying for sky-high grocery costs, rising utility bills and even student loans means we can’t afford another crushing bill,” she said.

According to the NHDP, Gov. Kelly Ayotte and her Republican colleagues have made no effort to assuage the housing crisis — it has only gotten worse.

Deputy House Democratic Leader Laura Telerski (D-Nashua) delivers her remarks during the Aug. 13 press conference hosted by the New Hampshire Democratic Party. Courtesy photo/NHDP

“Instead of investing in affordable housing solutions, Kelly Ayotte cut millions in funding for affordable housing initiatives at the exact moment that Granite Staters were begging for relief,” said O’Laughlin. “Young Granite Staters need help, yet Kelly Ayotte’s response has been to pull the rug right from under them. While Kelly runs around touting the New Hampshire Advantage, families and young people are being priced out of their communities.”

She said that according to the National Association of Home Builders, the average cost of a single-family home in New Hampshire is now $580,000, a figure that is simply out of reach for 83 percent of Granite Staters.

“That is the highest rate in the entire country, that’s outrageous,” said O’Laughlin. “Let me be clear, there is nothing advantageous about losing an entire generation of young workers and families because they can’t afford to stay here.”

O’Laughlin also called attention to Ayotte’s connection with Blackstone, Inc., the largest landlord in the U.S. Ayotte sat on Blackstone’s Board of Directors from 2019 to 2024. During that five-year period, she received an annual salary of $150,000 and amassed 16,500 shares of stock valued at approximately $2.2 million.

“We shouldn’t have to wonder whether the governor is making money from the housing crisis,” said O’Laughlin, adding that Ayotte has yet to disclose whether or not she owns Blackstone stock. “We deserve to know whether our governor has personal financial interest in the companies profiting from the housing crisis. I’m running for state rep. because I refuse to accept that this is the future for New Hampshire. I want to live here. I want to build my career here. I want to be able to afford a home here and I want other Granite Staters to have the exact same opportunity.”

Samantha O’Laughlin, a candidate for state representative, delivers her remarks during the Aug. 13 press conference hosted by the New Hampshire Democratic Party. Courtesy photo/NHDP

Ward 8 Alderman Derek Thibeault raised an important question.

“What happens when a city becomes more valuable to investors than it is affordable to the people who actually live here?” he asked. “Nashua is being squeezed from both sides. The demand to live here keeps growing, while the cost of actually living here keeps moving further out of reach.”

He said that when offers are made, prospective homebuyers are no longer competing with just each other. They are also going up against giant investment firms with billions of dollars to spend on real estate.

Thibeault also agreed that Ayotte has a responsibility to tell Granite Staters if she still owns Blackstone stock.

“If I were to guesstimate, if she never sold her stocks, they could be worth millions more,” he said, adding that Blackstone has a strong pull on Nashua’s housing market. “Gov. Ayotte owes the people of Nashua and the people of New Hampshire some answers. Does she still own Blackstone stock?”

Deputy House Democratic Leader Laura Telerski (D-Nashua) said the new $580,000 price tag for a single-family home marks the third increase since Ayotte took office two years ago.

Telerski is also worried that her children will not be able to afford a home in Nashua.

“I really fear that may simply be out of reach for them and I can’t help but think about the families that may be forced to leave because they simply can’t afford to stay,” she said. “For Kelly Ayotte, New Hampshire’s housing crisis is just another problem she would rather ignore.”

In March 2019, the United Nations sent a letter to Blackstone accusing the company of investing in housing for financial security thereby complicating the housing crisis.

“Human rights experts with the UN waved the red warning flag as long as six or seven years ago, as this whole crisis was brewing and specifically called Blackstone out,” said Telerski, adding that Ayotte continues to boast about her work in the private sector. “Kelly Ayotte was proud to be part of a company that is accused of predatory housing practices.”

Telerski also said the state has stopped funding the Housing Champions Program, which provided workforce housing.

“Instead of investing in a program that we know works, Republicans in Concord made it harder for communities to build the affordable housing Granite Staters desperately need and want,” she said. “We need leaders who understand that housing is not a commodity for Wall Street investors.”