New report details New York City’s affordable housing ‘crisis’

A new report from Comptroller Scott Stringer examines the numbers behind the need for affordable housing and what lawmakers can do to address the issue. Credit: Don Emmert/AFP/Getty Images
A new report from Comptroller Scott Stringer examines the numbers behind the need for affordable housing and what lawmakers can do to address the issue.
Credit: Don Emmert/AFP/Getty Images

A new report released Wednesday shows working class New Yorkers have particularly squeezed between sluggish incomes and rent hikes over the last 14 years.

The average American may have seen a rent hike of 44 percent since 2000, but New Yorkers on average are paying 75 percent more for rent than they did a little over a decade ago.

Meanwhile, New York City residents also saw their median income drop by 4.8 percent after adjusted for inflation.

The 40-page report from Comptroller Scott Stringer examined the numbers behind the city’s housing affordability woes, while offering some priorities for lawmakers tasked with alleviating homeowners and renters’ woes.

“It is critical to understand our City’s housing landscape so that we can target the next investment of resources,” Stringer said in a statement. “New York City’s position among global cities will be defined by how well we respond to this crisis.”

In the report, the comptroller commends Mayor Bill de Blasio’s commitment to create 200,000 affordable housing units within the next 10 years. The report emphasized the need for government subsidies to meet the city’s housing needs, dismissing the idea that the private market could create it at a faster rate as implausible.

When looking at the forces behind the increasing need for affordable housing, the report said that the oft-blamed gentrification process has had an affect on the city’s housing stock, albeit maybe less than people think.

“While gentrification of the city’s household distribution was an unlikely cause of rent inflation citywide during the Bloomberg era,” the report read, “the evidence at the borough and neighborhood level is more convincing.”

Using Brooklyn’s boom during the last 12 years as an example, the borough gained about 28,000 mid- and high-income households, compared to Manhattan’s 21,500. Meanwhile, the number of New Yorkers making $100,000 or more actually declined in every other borough.

“It may not be coincidental that Brooklyn experienced the largest increase in average rents while Queens and Staten Island the lowest,” the report added.

As to actually addressing the affordability issue, the report suggests that the city begin to focus on the housing needs of working families making less than $40,000 a year, who are particularly subject to stalled income and a dwindling supply of affordable rentals.

Stringer also proposes that lawmakers invest in the city’s Housing Authority, not only with stabilizing and preserving it but also rehabilitating existing units, which house almost 5 percent of the city’s entire population.

The comptroller’s office also addresses the city’s high homelessness rate and a fast-shrinking supply of rent-regulated housing, as well as the increasing issue of housing needs for the city’s elderly and disabled.

“In the modern era, there has been a crisis of affordability, but the conditions and the demands of that crisis have changed,” Stringer added. “We have begun to define the issues, now begins the work to provide affordable housing at all levels of the economic spectrum.”

Follow Chester Jesus Soria on Twitter @chestersoria



News
Entertainment
Sports
Lifestyle
National

US military tried, but failed to rescue journalist…

The U.S. military earlier this year tried to rescue journalist James Foley and other American hostages held in Syria ,but failed to find the captives.

National

Fate of captured beluga whales in hands of…

A Georgia aquarium went to court on Wednesday seeking federal permission to bring 18 captured beluga whales to the United States from Russia.

Local

After Eric Garner death, religious leaders meet to…

Interfaith leaders convened with city officials to discuss what the community can do to help dial down heightened tensions after Eric Garner's death.

Local

'Suspicious' Hamilton Heights fire caused by power strip:…

An extension cord overload caused the deadly fire in Hamilton Heights late Monday that killed a 15-year-old girl and injured at least 12 others.

Television

'So You Think You Can Dance' recap: Season…

And then there were six. It was a big night on stage as the Top 6 got to dance with each other, All-star partners and perform a solo routine.

Going Out

5 things to do in NYC this weekend…

FILM Lebowski Fest Aug. 22-23, 8 p.m. Various locations, Manhattan $20-$30, www.lebowskifest.com The Dude abides — for 48 hours to celebrate the 1998 Coen brothers classic.…

Television

'Doctor Who' personality profile: the 4 Doctors

When the time comes for a new Doctor, there's always some anxiety over the big question: Who will he be? The series owes its longevity…

Television

Billy Crystal to commemorate late actor Robin Williams…

  Comedian Billy Crystal will pay tribute to late actor Robin Williams at television's Primetime Emmy Awards on Aug. 25, the show's organizers said on…

NFL

Giants expected to work Corey Washington into first-team…

The day of reckoning for the Giants' fringe players will fall upon them Friday night against the Jets.

NFL

Jalen Saunders still unsure what caused car accident…

Jets rookie wide receiver Jalen Saunders spoke to the media Wednesday for the first time since his car accident, but he didn't say a whole lot.

NFL

2014 Fantasy Football: Rankings, list of top NFL…

2014 Fantasy Football: Rankings, list of top NFL defense (DEF)

NFL

2014 Fantasy Football: Rankings, list of top NFL…

2014 Fantasy Football: Rankings, list of top NFL quarterbacks (QB)

Sex

Online dating for every generation

Frank Jackson and his mother Maggie are like lots of modern families: They have dinner together regularly, keep each other updated on their lives —…

Wellbeing

Going green could be the key to getting…

If we could just pursue the things that would actually make us happy, we could help the environment too, according to a New York researcher.…

Wellbeing

Metabolic syndrome could have a sugar link

Scientists in St. Louis may have found another culprit in metabolic syndrome, which can lead to heart disease and type 2 diabetes.  Uric acid is…

Wellbeing

Another way stress hurts your unborn baby

Mothers know to try staying calm during pregnancy, as stress has been linked to behavioral and developmental problems for their babies. But now, a new…