Decades-old policies have led to a deepening shortage of housing units, particularly for low- and middle-income households.
Writing for New York 1, Emily Ngo highlights the shortage of housing, particularly on the lower end of the market, that is squeezing New York City renters. “In an interconnected New York, market forces and policy, profit and politics all play a role in creating this crisis of affordability, at the root of which is supply not meeting demand.”
“In Manhattan, the average rent was $4,094 in August 2021, but it rose to $5,246 by this past August, according to a Douglas Elliman report.”
Ngo points out that the city’s population growth is quickly outpacing predictions. “About 560,000 apartments must be built by 2030 to accommodate population growth, according to a Real Estate Board of New York report.” Meanwhile, efforts to convert the city’s vacant hotel rooms to housing have failed to add to the city’s housing stock.
FULL STORY: At the root of NYC's housing crisis, a decades-long problem of supply not meeting demand
Pennsylvania Mall Conversion Bill Passes House
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Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
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New Forecasting Tool Aims to Reduce Heat-Related Deaths
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AI Traffic Management Comes to Dallas-Fort Worth
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City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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