Housing shortage in New York By: Sae Xilong (23), John Chiang (12), Melson Chang (19), Gabriel Ng (5), Ian Tay (10),

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Presentation transcript:

Housing shortage in New York By: Sae Xilong (23), John Chiang (12), Melson Chang (19), Gabriel Ng (5), Ian Tay (10),

The Situation

In … Rent 11% Income 2%

Government has 6 Billion Backlog in Capital Repairs

People Paying 50% or More of Income 6.7 Million In 10 years

Why is this caused?

Cosmopolitan City Migration is high Building regulations mean new homes are slower to materialize DemandSupply Overall costs will increase

Problems?

There are 200,000 people 50,000 vacancies That’s a 4:1 ratio!

100,000 families Housing Choice vouchers

More unhappiness $$$ More money spent on homes, less on other sectors (e.g. education, military) Social unrest

So what has been done?

My Micro NY decides to make The de Blasio* program aims to have… 120,000 80,000 *De Blasio is the surname of the mayor. Current and new houses to be subsidized Smaller!

Sources shelter shelter The one and only textbook

Thank you!!!