Lack of Affordable Housing Could Stunt New York's Economic Growth

Concern about the city's supply of affordable housing is one of the key messages from the recent "geography of Jobs" report published by the New York Department of City Planning.

August 9, 2018, 9am PDT | James Brasuell | @CasualBrasuell

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"A lack of affordable housing stock within the five boroughs has the Department of City Planning (DCP) worried about New York City’s ability to grow in the future," according to an article for the Real Deal.

The focus on the affordable housing stock is another angle on the recent "Geography of Jobs Report" published by the New York Department of City Planning, and promoted by a blog post written by New York City Planning Director and Planning Commission President Marisa Lago.

"Over the last ten years, NYC has added 708,000 new jobs, but only 378,000 new housing units have come online in the five boroughs, creating a shortage that pushes about 100,000 people per year to the suburbs," according to The Real Deal's explanation of the housing and jobs nexus in the city of New York.

For more news coverage of the report, see also an article by Joe Anuta.

Published on Wednesday, August 8, 2018 in The Real Deal