Reading Response 3

New York City is dominated by a capitalistic economic system. It is the motivating factor of most, if not all, of the building developments. It only follows then that low-income housing will not be built in the numbers that they should be. Rather, companies will build housing for middle to high income residents- regardless of the low income families then displaced from their homes. Neo-liberalist subsidizing of housing would certainly ease the housing crisis, but it is simply not a viable action in a city so dominated by capitalistic landlords and housing developers. As we’ve already seen, homeless shelters, which are common throughout the city and which do offer living situations to the poor, are not a particularly helpful solution. Ideally, more housing would increase supply, thereby driving prices downward, but it has become clear that simply building new housing is not an effective plan to combat the housing crisis as long as a capitalistic market continues to cater to the wealthy. Can simply putting pressure on building developers to build low-income living really ease the housing problem?

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