Thursday, August 31, 2017
Opinion: How A Pied-À-Terre Tax Could Help Solve New York City's Housing Crisis
It’s not an understatement to say that every time we think it can’t possibly get more expensive to live in New York City, somehow it does.
Rent burdens, overcrowding, homelessness and essentially every other indicator of housing stress are at the highest level in modern history and continue to climb. To change these trends, we primarily need to build more homes not just in New York City, but in the entire New York Metropolitan Region – a lot more. The Regional Plan Association has estimated that homebuilding in the region will have to increase 50 percent from its current rate just to keep our housing crunch from getting even worse. . .