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New York’s Housing Problem – Alex Lam
March 16, 2015 | Leave a Comment
Many people think of New York City as the place to be. It provides numerous amenities and attractions, so that its visitors are never bored. Every destination is only a convenient train ride away (Despite all the train delays). The city is extremely diverse, so items and foods from different cultures can easily be found without any trouble. In addition, there is plenty of time to try this, as nothing ever closes in the city. New York City has become a so much of a hub for tourists that it can be forgotten that it is an actual home to millions of people. It’s a place for families to raise kids and work. These residents are not experiencing the luxuries that tourists are. They are feeling the pains and struggles of not being able to live comfortably, as their rents increases and their incomes remain flat. They are feeling anger as they see constant construction of buildings, but none are available for those working endlessly for the city. They are feeling neglect as the government fails to implement policies to relieve some of their problems.
Owning a home in New York City is close to impossible, and will remain a long-term and possibly unreachable goal for most. However, it should not be a dream to live in the city. The city provides many immigrants with a much-needed community for assistance to settle in the country. It provides many opportunities and jobs that cannot be found in other states. It also provides the convenience of a highly functional transportation system. Yet, as rents continue to rise and incomes remain flat, living in the city is also becoming a dream. More than half of the city’s renters are forced to spend at least 32 percent of their income on rent. Those who are low-income are hurt the most. With a third or more of their incomes being put towards rent, they are unable to afford much of anything else, while maintaining a savings for emergencies or their child’s college savings. Not only will the family not be able to live comfortably in the present, they are hindered from helping their child move up the socio-economic ladder because they are unable to provide the education and skill set needed.
While there is constant construction of new buildings, in a city where a large population is struggling with the rise in rent costs due to limited supply, the problem continues and becomes worse. This is due to the fact none of the new buildings are being built for those who need it. Instead, these are luxury buildings for the rich, who already have a couple homes elsewhere. If there is even one percent of affordable housing in these buildings, it is only an afterthought and likely to be unaffordable anyways. With the lack of available space, many families are forced to live in unsafe conditions by doubling up with other families. While it is true the government should keep the rich interested in buying homes in the city, and keeping the city reputation as a place to be, they should also focus on helping those who are actually contributing to the city.
During his campaign, De Blasio stood for the people. Upon entering office, there has been little talk in helping the people with the most important necessity, housing. Despite his efforts, he promised about 200,000 units of affordable housing over the span of ten years for the north of two million renters. Government intervention is a last resort, but at this point, they do need to enact policies to alleviate some of the stresses. Private businesses will not act on their own in providing more housing to the residents. The government needs to ensure more efficient use of the space in the city. Having large vacant units is a waste that could be used for the improvement of the city.
Decreasing the housing supply or cost of rent is not the only solution available. The aim here is help the residents of New York live more confortable lives. This can be achieved through other means such as decreasing transportation costs, or providing programs to help parents take care of their children to allow more leverage for work. There can be additional subsidized food programs. Another quick solution would be to raise wages. The people of New York City deserve more, and the government is in the best position to provide it.
