After failing to pass her ambitious Housing Compact proposal last year, Gov. Kathy Hochul is using a lighter touch on housing but state and city lawmakers have expressed hope for a potential compromise to both increase the development of affordable homes and protect tenants.
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The New York City Housing Authority has a problem. The numbers show what observers have been howling with increasing exasperation for years, a principle that follows a logic that we all accept on everything from doctor checkups to getting a car’s oil changed: not addressing current issues doesn’t make them go away or even remain static, but makes for exponentially more complicated and expensive fixes in the long run.
Solving New York’s housing crisis requires decisive action to catalyze faster development of hundreds of thousands of new homes: Recent analysis by the Regional Plan Association, reinforced by Gov. Hochul in her State of the State, shows that New York State needs to build more than 800,000 more homes over the next ten years to address current needs and meet expected growth.
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