Will more units actually reduce housing costs?

The basic premise behind the ambitious housing plans from Mayor Eric Adams and Gov. Kathy Hochul is simple: New York’s population growth has far outstripped its housing stock in recent years, driving up prices and making its real estate market insanely competitive for people looking to rent an apartment or buy a home. Increasing the housing supply, therefore, would restore some much-needed balance to this environment, ideally making the process less stressful and costly.

800K

AMOUNT the city’s population grew by in the past decade, but only 200,000 homes were added

Although the idea makes sense, experts say there is little indication that solely increasing the area’s general housing supply will lead to a signi cant decrease in the sky-high rents and home prices that New York has become known for, similar to how adding lanes to a highway does not lead to the end of tra c jams. For that to happen, developers will need to expand the types of homes they

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