- 80k new “affordable” units is not enough. That may house 300k people, but that’s far too few in a city of 8.4 million
- Spending city money to preserve “affordable” housing is ludicrous. What matters is the total supply – preserving affordable housing means keeping a lucky few in apartment, engaging in expensive and counterproductive legal wrangling, and likely encouraging the under use of below market rate apartments – a problem that is so widespread, it was estimated that the median rent in manhattan would drop by nearly 2/3 (3800 to 1400) if various rent control and stabilization programs were abolished. There are simply too many seniors living in 3 bedroom apartments they no longer need (NB: while the portion of wealthy people in rent stabilized or controlled housing may be not particularly large, remember that seniors may be income poor (relying on SS and pensions) but asset rich, surely distorting those figures).
- Encouraging faster land use review is a great idea
- As are the hints that zoning may be loosened for affordable projects
- Are we going to see building on the LIRR railyards in hunterspoint?