Politics: Affordable Housing Options

Bill de Blasio, mayor of New York City, revealed a plan to create and maintain 200,000 units of affordable housing in an effort to combat economic inequality. This strategy would provide enough housing for over half a million New Yorkers by targeting underused land and increasing affordable construction. Blasio intends to reverse the current “tale of two cities” that has emerged in New York as the gap between the rich and the poor widens. A report discovered that almost 50% of all New Yorkers spend one third of their income on housing, while a third spends one half on housing. Since 2000, the rental prices in New York City have skyrocketed by 75% while real incomes have declined. Blasio’s plan is ambitious, but the U.S. Department of Housing and Urban Development and other groups fully support his efforts.

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