Housing Crisis NYC

The shortage of affordable housing for New Yorkers is a fast growing problem that can only be solved with combined efforts from all parts of the housing industry. Public housing was once viewed as a “springboard” to a better future. It is now seen as a holding for society’s poor and undesirable. The fact that 1 billion dollars in funds was found to be stagnant while housing has been deteriorating for decades is a pretty large indicator of where we’re at.  As Mayor De Blasio’s plan astutely points out, usually in a free market economy, when an item is in large demand, it is produced to meet demand. However, this is not occurring within the housing industry today. Various government regulations stand in the way of building projects and therefore it is more profitable for the private sector to convert housing into condominiums and co-ops.

Many New Yorkers live in low income neighborhoods with very low income diversity People in these neighborhoods have little access to education, and jobs. These neighborhoods would benefit most from public housing. The idea of the “springboard” is one that should be reinstated as the goal for public housing. A place for the city’s low income residents to be relieved from the stress of being a severe rent burdened household and  work toward a better life.

Affordable housing is an issue that has no clear cut solution. The diversity of New York’s resident both socioeconomically and ethnically means that everybody has different needs when it comes to housing.  A multi faceted plan that combines forces from both government and the private sector can help fill those needs. It is in this way that we can keep New York a beacon of opportunity for all who come here.