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Overall, affordable housing dropped 17% in NYC, 20% in Brooklyn, 21% in Queens, 12% in Manhattan, 21% in Staten Island and 15% in The Bronx.
The study shows that the number of apartments that are affordable to people earning $32,000 a year (which is 80% of the median household income in the city) has fallen drastically in only three years.
The report also found that while the median rent for unsubsidized apartments jumped to $900 from $750 — a 20 percent increase in three years — the median household income in the city shrank to $40,000 from $42,700.
I’d like to see Bloomberg get as passionate about this, since he’s supposedly a billionaire of the people, as he did about the feds cutting our bioterrorism budget. In fact, I’d just like to see any politician show that much emotion or anger at the system that consistently allows the cost of living rise while allowing the median income of an average household to fall.
Less Housing for Residents of Average Pay, Report Says [NYT]
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1. T.
Want a neat little picture by your comments? Get one here.The problem is that we have to get rid of rent-stabilization laws altogether and also get rid of a lot of the laws that make it nigh-impossible for landlords to evict tenants. Price controls reduce supply, economics 101.
Posted Friday, June 16, 2006 at 11:00 am | Permalink
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