After a weekend of closed-door talks with Governor Hochul and legislative leaders, New York lawmakers have come to an agreement on a legislative plan addressing the state’s pressing housing crisis.
In this recent opinion piece, the WSJ Editorial Board argues that New York Governor Kathy Hochul’s proposed Good Cause Eviction standards equate to universal rent control and will be grossly ineffective as they “increase disincentives for investment” and “layer on subsidies.”
A recently released study from the New York City Department of Housing Preservation and Development confirms that the demand for housing in the city is outpacing supply and, as a result, rents are climbing.
New York state senators are set to propose a legislation package this week encouraging new housing development, reviving past initiatives for affordable housing construction and establishing a new public benefit corporation to finance housing projects on state-owned land.
As many states struggle with housing affordability, some lawmakers are again proposing new or expanded rent control regulations… and it’s backfiring.
Stricter rent control policy is erasing a reported $75 billion in property value across New York City.
In his first year as New York City’s mayor, Eric Adams released a plan to build 500,000 new housing units in the city by the end of the decade.
Wealthy New Yorkers with multi-million-dollar homes in the Hamptons are snagging rent-controlled apartments in New York City, paying rents far below market rate.
In just the first 12 days after NYC’s ADU pilot program was announced, more than 1,300 homeowners applied to participate in it.
NYC’s pilot program to boost ADU construction has a problem: It’s a needlessly expensive way to build very little housing.
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