RPA Report: The Affordability Squeeze

On Friday, May 3rd, the Regional Plan Association unveiled it’s newest report on the potential impact the continued lack of housing construction would have on the entire New York metropolitan area. Their report suggests that the entire Tri-State region would need to build over 1.2 million new housing units by 2035 in order to close the existing housing gap and the number of rent-burdened households. They suggest that the GDP impact of not building this housing would range from $400 to $900 billion. The region would also lose out on as many as 700,000 jobs, while its likely that affordability would decline even further should housing not be built.

For more information on the report please the RPA’s website.