Algoma’s Post

A major win for housing in NYC. The City Council’s passage of the City of Yes proposal marks a turning point in tackling the city’s housing crisis. By streamlining zoning, this plan enables vital #AffordableHousing growth and economic revitalization. https://lnkd.in/dAN-GAhF #CRE #HousingSolutions

In February 2024, the New York City Department of Housing Preservation and Development reported a critically low rental vacancy rate of 1.4%, according to its 2023 Housing and Vacancy Survey. This rate, far below the 5 to 8 percent considered healthy, signals acute challenges in the housing market, marked by steep rents and a severe shortage of available homes. This scarcity particularly affects low-income families, with some having to allocate over half their income to cover rent, severely limiting affordable housing options. The repercussions of this housing crunch are widespread, affecting various demographics, including students from Fordham University, who find off-campus housing increasingly unaffordable. The median rents across NYC boroughs remain daunting, pushing students to opt for on-campus living despite a desire for more independence and space. Personal accounts from students highlight the dichotomy between the high cost of living in the city and the yearning for autonomy that off-campus housing offers. Amidst these challenges, the city is taking legislative steps to mitigate the crisis. The "Fair Housing Framework" law, enacted in late 2023, aims to foster the creation of 100,000 new homes across the boroughs by altering zoning regulations, a move intended to bolster housing availability and affordability. This situation emphasizes a broader issue of economic disparity and housing accessibility in New York City, necessitating comprehensive and effective solutions to ensure that all New Yorkers have access to affordable and decent living conditions. #NYCHousingCrisis #AffordableHousing #RentalVacancyRate #FairHousingFramework #NewYorkCity #FordhamUniversity #HousingShortage #EconomicDisparity Contact me to discuss the latest scoop in real estate! #manhattanrealtor #brooklynrealtor #queensrealtor #bronxrealtor #westchesterrealtor #nyrealtor #nycrealtor #realtist #nyrealestate #douglasellimannewyork

A look back to when Dallas first adopted Dallas Housing Policy 2033: @CullumClark noted policymakers should recognize that addressing Dallas’ housing problems must be a whole-of-city effort, with large private-sector and nonprofit roles and closer collaboration across the ecosystem. This means abandoning city government’s tendency to go it alone on affordable housing — a tendency that has led national affordable housing developers to bypass Dallas for years. Propositions G, H, and I will give the @CityofDallas the necessary resources it needs to partner with mixed-income housing developers and build more housing at a variety of price points. https://bit.ly/3SYfRjc

Fact: There's a housing shortage in Portland. Another fact: The City of Portland is doing something about it. Starting with more facts. Like exactly who needs housing and of what type and affordability level? We've done that in-depth research with the Housing Needs Analysis. Now we're sharing the Housing Production Strategy (HPS) that addresses that need, guiding our housing growth and development over the next 20 years. And later this month, we'll be sharing the HPS with City Council next! https://lnkd.in/gEdtibPi #housingforall

In a city that is majority renter, Single-Family zones make up over 70% of our residentially zoned land. This has created inequitable land use patterns that have led to segregation, displacement, and skyrocketing housing costs. Nearly half of households struggle to afford rent or mortgage payments, and 46,000 people are experiencing homelessness on any given night. Yesterday, the City of Los Angeles chose to kick the can down the road again by voting to exclude single family zones from the Citywide Housing Incentive Program Ordinance and protecting the exclusionary zoning that has led us into this crisis. I thank Councilmembers Raman and Hernandez for their courage and leadership, and Councilmembers Harris-Dawson, Price, and Jurado for their support in this fight. Our position is clear: Angelenos can no longer wait for action on housing affordability. We need to build more housing now, of all types, in all neighborhoods. If we do not end exclusionary zoning and change where apartments can be built, we will repeat the inequitable land use policies of the past that have led to segregation and displacement. Without fundamentally changing zoning to allow for a dramatic increase in multi-family housing throughout this City, we will never be able to address our housing shortage. 

Producing new housing has to be a "shared responsibility," said @New York City Council Speaker Adrienne Adams at the @NYU Furman Center's Policy Breakfast in February. New York City official are hopeful that two new packages of laws—the City Council’s Fair Housing Framework and Mayor Eric Adams’ proposed City of Yes for Housing Opportunity plan—will work in tandem to fairly and equitably produce new housing across the city and ensure every single neighborhood contributes to solving the city’s acute housing crisis. "We have to normalize a shared responsibility of addressing the housing crisis across all neighborhoods and establish clear expectations and targets that are localized and transparent to all of us,” said Speaker Adams during the panel. “We’re all in this together.” Read @NYU Furman Center's @Benjamin Hitchcock, @Shannon Flores, and @Elizabeth (Nikki) Miller story https://buff.ly/48qiXly #newyorkcity #housing #affordablehousing #equity #fairhousing #housingcrisis

We often hear that “housing is a human right,” but this well-intended phrase can sometimes be a hindrance to finding real solutions. While it’s important to recognize housing as essential, we don’t typically “pay” for human rights, and this approach may obscure the complexity of addressing housing affordability. My approach is grounded in using existing resources and introducing a critical solution I call Minimum Housing Program, not necessarily a new term, but one that adds financial substance to the concept. Personally, I am tired of hearing the term “affordable housing,” when in reality, housing is not affordable for 99% of the population. Just so you know, the so-called “affordable housing” comes with a waiting list, and that list is not accepting new applicants at the moment while people are losing their jobs and experiencing financial setbacks every day. Why has something as basic as shelter become so complicated? I can tell you it’s not because people don’t want to build. It’s because we have policies that have pushed us out of housing development. We can and should continue declaring housing a human right, but we need to be honest about the financial realities and create solutions that truly address housing affordability. And that’s what I bring to City Hall!

Washington, D.C. is facing a mounting challenge in affordable housing. As reported by The Washington Post, the median rent for a one-bedroom apartment has jumped 8% in the past year, now reaching $2,800 per month. This spike underscores several critical issues: Decline in Affordable Units: Over the past decade, the city has lost more than 20,000 affordable housing units, worsening the crisis. Increased Financial Pressure on Renters: Around half of DC renters are now dedicating over 30% of their income to housing, placing significant strain on their finances. Policy Gaps: Current housing policies are falling short in addressing the growing demand, highlighting the urgent need for innovative approaches. For an in-depth analysis of the situation, check out the full article: Washington, D.C. Faces Growing Affordable Housing Crisis Amid Rising Costs. At #ECM, we understand the urgency of developing #effectivestrategies to tackle these challenges and enhance housing affordability. Let’s work together to create meaningful change in our communities.

Important to reiterate this part of his post: "An under-appreciated part of this success: the 2016 Zoning Update that made it so much easier to expand housing choices, in large part through significant reductions (or in Downtown, elimination) of parking requirements." You can either build housing for cars or housing for people. You can't efficiently or affordably accomplish both.

yes, what an achievement. 80k units over 15 years. meanwhile 40k rent stabilized units are off the market due to the 2019 rental law. Albany has the power to get these units on the market, but won't. stop gloating over scraps. amend the 2019 rental law.