AFFORDABLE HOUSING IN NEW YORK CITY

New York City has a housing crisis. Homelessness has almost doubled in the last 10 years. Overcrowding rose 20% in the six years between 2008 and 2014, and more than 30% of renters pay more the half of their income in rent. And without real action, it will only get worse. RPA forecasts show that New York City has the potential to add a million people by 2040. Without the ability to build more housing, Manhattan and other inner core areas will continue to become more and more expensive, increasing already enormous pressures on existing affordable and rent-stabilized housing, the pressure that has a ripple effect on the rest of New York City and the region as a whole.