New York's Housing Crisis Intensifies Amid Political Deadlock

As the city faces a severe shortage of homes, disagreements between lawmakers and city officials hinder progress on housing reform.

New York's housing crisis continues to worsen, with a shortage of homes and apartments intensifying. The city needs to build another 473,000 houses and apartments by 2032 to meet demand, according to the Regional Plan Association.
Assemblywoman Linda Rosenthal, chief of the Assembly’s housing committee, has dismissed the importance of market-rate housing, causing tension with city officials who are pushing for legislation to convert empty office towers into housing.
Governor Kathy Hochul and Mayor Eric Adams argue that the best way to tackle soaring rents is to dramatically increase the amount of housing that gets built, including market-rate housing.
Hochul's proposed housing regulations, which would have forced New York City and suburban communities to build more homes and apartments, faced resistance from lawmakers and did not pass.
Despite the urgent need for housing reform, the chances of a major deal in Albany are mixed at best, with political hurdles and disagreements between different factions slowing progress.