Credit: sommart/Adobe Stock NY Looked Seriously at a 'Builders' Remedy' Law to Address Affordable Housing Shortage
As this column has noted before, New York state has an acute housing shortage. At the current slow pace of construction (about 40,000 units in 2022), the state will never produce the 800,000 housing units needed to meet demand over the next 10 years. The housing shortage has markedly increased housing costs throughout the state, hitting low- and moderate-income New Yorkers hard.
July 27, 2023 at 11:20 AM
9 minute read
As this column has noted before, New York state has an acute housing shortage. At the current slow pace of construction (about 40,000 units in 2022), the state will never produce the 800,000 housing units needed to meet demand over the next 10 years. The housing shortage has markedly increased housing costs throughout the state, hitting low- and moderate-income New Yorkers hard.
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