Here’s Mayor Bill de Blasio’s affordable housing plan. It’s interesting, and in in some ways ambitious, but let’s keep in mind that 80,000 new units is a very modest goal for a city of more than eight million people. Ultimately, the only phenomena that will make a difference in New York City’s housing equilibrium will be, either, the liberalization of development policies to allow for construction that meets demand; or a collapse in the desirability of the city.
I also have strong philosophical objections to the paternalistic caste system of bureaucratized affordable housing, within which a certain number of below-market units are bestowed on the metropolitan economy’s deserving worker bees — with all of the bureaucracy and micromanagement that the bestowers desire. If local government would simply get out of the way (within reason), and allow developers to build to the market’s demand, then I suspect that a much broader base of people with low to moderate incomes would be able to obtain and negotiate housing arrangements, on their own terms. Ultimately, the tranches are less important than the total: if de Blasio’s land use policies result in a significant expansion in the number of city housing units, it should help. If not, then 80,000 new “affordable” units will be a drop in the bucket.
Liberalization of land use policy is where the real promise of a more equitable city lies. And to bring about the required sea change, first, the policymakers have to get past the NIMBYs.