MrSquished
Lifer
- Jan 14, 2013
- 25,906
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the housing is the problem in NYC. NYC is short about 400,000 units to equalize demand and supply. That's a lot of units that mandated affordable housing mandates can't fix. Build more density especially near transit.In NYC the housing isn't the problem as much AFFORDABLE housing because landlords love to make a killing. Outer boroughs is much more affordable but like you said not many want to commute for 45 mins in the subway.
And I don't think homes are going down in value anytime soon for the first time home buyers either.. not close to major metropolis. I have a friend who I've known since middle school. He moved out of NYC to Washington State in the 2000's due to it being too expensive, then he moved to Texas in 2010's and bought a home for get this.. $70,000. His truck costs more than his house!
So I don't think this problem is getting solved and it'll be the people who themselves move into suburban areas as they get older or move away as they know they have a limited time where they can earn money and they don't wanna be homeless afterwards.