New York State Housing Agenda 2023

Blog post by Furman Center for Real Estate and Urban Policy

Furman Center for Real Estate and Urban Policy   (New York)

New York State is facing a housing affordability crisis after many decades in which the shortage of new homes and apartments worsened while incomes didn’t keep pace with rising rents. While some of the state’s local governments have worked to increase the supply of housing and assist families facing housing insecurity, many have lacked the resources or political will to respond. The housing shortage and resulting affordability crisis are affecting the state’s desirability for both residents and businesses. Governor Kathy Hochul has made housing affordability a key priority, and New York lawmakers are poised to consider a slate of different housing issues in the upcoming budget and legislative session. Traditionally, New York State has left most land use decisions to its local governments, but as states across the country are responding to similar housing shortages by taking a more active role in land use matters, Governor Hochul, along with New York City Mayor Eric Adams and several other mayors, some state legislators, and many housing and land use experts and advocates have called for the state to intervene more directly to ensure that every city, town, and village across the state is contributing to meeting New York’s housing needs.

To help policymakers, the media, and residents evaluate those proposals, the NYU Furman Center published this series of policy briefs to rigorously examine key housing issues facing legislators and to explore evidence about the efficacy of different policy interventions under consideration.