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☆ Don't get your hopes up about the housing market
▼ + stars: | 2024-08-24 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

One of the most painful ways higher interest rates have impacted Americans is through higher housing costs. The combination of high borrowing costs and skyrocketing home prices and rents — caused by a housing shortage — has created an enduring housing affordability crisis. On the one hand, lower borrowing costs would likely make mortgages cheaper for buyers and encourage builders to construct desperately needed new homes. But rate cuts would also spur new home construction, as builders respond to higher demand and lower borrowing costs for acquisition and construction loans. On top of high borrowing costs, builders are struggling with a severe shortage of construction workers and high building material costs.

Persons: —, Jerome Powell, Daryl Fairweather, Wells, underbuilding, Ben Metcalf, Metcalf Organizations: Service, Jackson Hole , Wyoming ., Business, Bank of England, Terner Center, Housing Innovation, UC Berkeley Locations: Jackson Hole , Wyoming

☆ Urban biking is booming around the world, but New York City is falling behind
▼ + stars: | 2024-08-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +6 min

New York City has also seen a surge in bicycling since the pandemic caused many to avoid mass transit and ride shares. And the funding for the Streets Plan — more than $900 million — has already been allocated to DOT. The city streets were designed to maximize vehicle speed rather than to get as many New Yorkers around as efficiently and safely as possible. While New York City streets have generally gotten safer since the city adopted its 'Vision Zero' plan in 2014 to eliminate traffic deaths and serious injuries in 2014, progress hasn't been consistent. Advertisement"What New York City can learn is that when you commit to comprehensive bike infrastructure, it works," Elizabeth Adams said.

Persons: Adams isn't, Adams, doesn't, Elizabeth Adams, Kathy Hochul, it's, they're Organizations: Service, Business, Department of Transportation, DOT, Transportation, New York Gov, New Locations: Paris, New York City, New York, London, Manhattan, Cities, Tokyo, York City

☆ Barcelona is banning Airbnbs. Other European cities have cracked down already — with some success.
▼ + stars: | 2024-08-11 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +8 min

Many experts say short-term rentals, including Airbnbs, are part of the problem, restricting local housing supply and driving up prices. We took a look at three European hubs — Lisbon, Florence, and Amsterdam — that have imposed relatively strict regulations on short-term rentals. Cities have been worried about the impact of short-term rentals on housing costs for years. Instead of a blanket ban, Amsterdam caps the number of nights hosts can rent out their homes at 30 a year. In an increasingly tight housing market, the dominance of short-term rentals acts as an "amplifier," he said.

Persons: —, Airbnb, Lisbon's, João Pereira dos Santos, Pereira dos Santos, Gregory W, Fuller, Florence, Florence's, Dario Nardella, Antonello Romano, Romano Organizations: Service, Business, New York, School of Economics, Finance, Queen Mary University of London, University of Groningen, Wall Street, University of Pisa Locations: Barcelona, Barcelona's, Spanish, New York, Tokyo, Vancouver, London, Paris, — Lisbon, Florence, Amsterdam, Lisbon, New York City, EU, Portugal, Netherlands, Venice

☆ Tim Walz is a YIMBY. He's supported a ton of new housing that's kept rents down in Minnesota.
▼ + stars: | 2024-08-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Walz has overseen a significant push for new housing, including reducing regulatory barriers to construction, and supported progressive efforts to support low-income tenants and homebuyers. In May 2023, he signed a $1 billion housing omnibus law, which included funding for programs ranging from downpayment assistance to workforce housing. A city leading the country on housing policyMinnesota's biggest city — Minneapolis — has long been a national leader on pro-housing policy. A lawsuit in 2022 paused the policy's implementation until the Minnesota state legislature passed a law — signed by Walz — in May allowing the plan to go forward. Over the last decade, Minneapolis has constructed a ton of new and dense housing, which has significantly improved affordability.

Persons: —, Joe Biden, Kamala Harris, Harris, Tim Walz, Walz, Minnesotans, Ezra Klein, Janet Yellen, Yellen, Jenny Schuetz, Daryl Fairweather, Redfin's, Walz — Organizations: Service, Business, Minnesota Gov, New York Times, Democratic, Brookings Institute, Minneapolis —, Twin Locations: Minnesota, Minneapolis, Twin Cities

☆ JD Vance said migrants are the reason it's so expensive to rent or buy homes. He's wrong.
▼ + stars: | 2024-08-07 | by ( Alcynna Lloyd | Eliza Relman | ) www.businessinsider.com time to read: +5 min

With ongoing affordability challenges exacerbated by high interest rates and inflated home values, housing is a major concern for Americans across the political spectrum. "When I talk to Americans, one of the biggest concerns I hear is, 'Why are housing costs so high?' In the past, Vance has blamed the housing affordability crisis largely on high interest rates. Many economists disagree with Vance's argument about the source of the housing affordability crisis and his solution to it. They've also blamed the current administration for relatively high interest rates, which are determined by the independent Federal Reserve and designed to control inflation.

Persons: —, JD Vance, Vance, Sean Hannity, Kamala Harris, Daryl Fairweather, Fairweather, hasn't, Ned Davis, There's, Donald Trump's, Biden, Harris, They've Organizations: Service, Fox News, Republican, Business, Federal Reserve, Ned Davis Research, Trump Locations: Ukraine

☆ The noon-to-4 is the new 9-to-5 for driving commuters, but it's not helping traffic congestion
▼ + stars: | 2024-07-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Read previewAfter roads went eerily quiet during the early months of the pandemic, traffic is back with a vengeance. New remote and hybrid work schedules and a rise in car ownership in recent years have transformed traffic and congestion patterns. New York City had the worst congestion of any city in the world in 2023, the INRIX report found. AdvertisementNew York City had the worst congestion of any city in the world in 2023, the INRIX report found. While the population of New York City residents rose 1.4% between 2012 and 2021, the number of registered passenger vehicles rose by 12%.

Persons: —, INRIX, Bob Pishue, COVID, Pishue, Declan Gill Organizations: Service, Business, New, People Locations: Dallas, New York, Manhattan, New York City, York City, Yorkers

☆ Parisian Airbnb hosts are raking it in this summer as hotels suffer
▼ + stars: | 2024-07-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

Many will stay in the French capital's tens of thousands of hotel rooms, but many others are opting for short-term rentals, including Airbnbs. There are 44% more short-term rentals listed in Paris than there were last summer, according to AirDNA, a collector of industry data. The French capital had the fastest-growing short-term rental market in the EU over the last year, according to Lighthouse, a firm that analyzes the hotel market. National lawmakers are also poised to raise taxes on income from short-term rentals as a way to encourage homeowners to rent out their properties long-term. Airbnb, which dominates the short-term rental market in France, has leveraged the Olympics to expand its roster of hosts and guests in France.

Persons: —, Airbnb, Dave Stephenson, it's, AirDNA, RICCARDO MILANI, Blake Reiter, Reiter, they're, John van Hasselt, Anne Hidalgo, Hidalgo, wouldn't, " Reiter Organizations: Service, Olympic, Business, Games, City of, Getty, Time, Olympic Games Locations: Paris, That's, EU, France, City, Weeks

☆ Elon Musk's Favorite Dating App Is Run by the Tokyo Government
▼ + stars: | 2024-07-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +14 min

Grace, a 29-year-old publicist in New York, has regularly used a slew of dating apps for more than four years, with little luck. Among millions, a consensus is forming: Dating apps suck so bad that they might even be deliberately keeping us from finding love. In Tokyo, the city government is even releasing its own dating app, part of a campaign called Tokyo Futari Story ("futari" means couple). Bouke de Vries, an associate professor of philosophy at Ghent University in Belgium who's studied dating apps, argues that state-run dating apps are at least in theory better positioned to help people find partners without spending too much money or time in the process. Last year, Japan's most popular dating app, the Match Group-owned Pairs, began collaborating with several prefectures and cities.

Persons: Grace, She's, it's, who'd, Tinder, Damona Hoffman, Bianca Stelian, Ryan Clarkson, —, They've, Ali Jackson, Bouke de, cupid, Bouke de Vries, Belgium who's, de Vries, Omar Minami, Cheryl Drury, They're, Francesca Katayama, Junko Yamada, Yamada, Elon Musk, I'm, Justin Garcia, Garcia, what's, there's, Eric Adams, Adams, Eve Organizations: Raya, Forbes, League, Match, Children, Families Agency, Ghent University, Government, National, Insurance, Rissho University, Department of Health, Human Services, Conservatives, Trump, PAC, Indiana University, Kinsey Institute, Match Group, Republican, Kinsey, New, New York City — Locations: New York, New York City, Japan, Australia, America, Saitama, Tokyo, Bouke de Vries, Belgium, Singapore

☆ JD Vance says deporting 20 million people is part of the solution to high housing costs
▼ + stars: | 2024-07-17 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Read previewOhio Sen. JD Vance, former President Donald Trump's VP pick, has made his hawkish views on immigration central to his transformed political persona. In the past, Vance has also blamed the housing affordability crisis largely on high interest rates. AdvertisementThe Trump-Vance housing policy recordTrump hasn't talked much about housing policy on the campaign trail, despite arguing that Biden hasn't done enough to control housing costs. AdvertisementTrump doesn't support upzoning to legalize denser housing construction in low-density neighborhoods — a key part of the solution to the housing supply shortage, according to experts. He claimed Biden wanted to "abolish" the suburbs by encouraging more affordable housing construction.

Persons: —, Ohio Sen, JD Vance, Donald Trump's, Vance, Trump, Biden, Trump's, hasn't Organizations: Service, Business, NPR, Department of Housing, Urban Development, Center, Budget, HUD, Trump Locations: Ohio, Mexican

☆ How a Montana retiree will save on spiking home insurance and taxes by living in a type of housing that's illegal in many places
▼ + stars: | 2024-07-16 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

While her house is paid off, her home-related costs, including insurance, property taxes, and maintenance, have risen. In 2019, her home insurance cost about $890, but last year, according to her record-keeping, she paid almost $1,500. Increasingly, cities and states across the country are legalizing and even incentivizing ADU construction as a way to boost the supply of smaller, more affordable homes. Courtesy of SylviaThis comes as older people, including homeowners, are struggling with rising housing costs in communities across the country. But property taxes and insurance costs are also way up, making it hard for many homeowners to afford their payments.

Persons: —, Sylvia, She's, who's, I'm, it's, ADUs —, Sylvia ADUs, ADUs, Policygenius, Beverly Dashnaw Organizations: Service, Business, BI, Harvard Joint Center for Housing Studies Locations: Arizona, Missoula , Montana, California, Montana, Missoula, ADUs, In Montana, Helena

☆ Biden announces plan to cap rent increases at 5% for half of American rental households
▼ + stars: | 2024-07-16 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +5 min

Read previewPresident Joe Biden on Tuesday rolled out a plan offering landlords a choice: cap annual rent increases at 5% for the next two years or risk losing valuable tax credits. These landlords control more than half the national rental market, according to senior White House officials. Corporate landlords who increase rent by more than 5% would lose the valuable tax benefit known as depreciation deductions. AdvertisementA focus on housing affordabilityAs president, Biden has pushed a series of pro-housing policies and generally favored more federal participation in housing policy. Tuesday's move is part of a series of recent housing policy announcements from the administration.

Persons: —, Joe Biden, Lael Brainard, Biden, Donald Trump, alledgedly colluding, Kamala Harris, Janet Yellen Organizations: Service, White House, Business, Harvard Joint Center for Housing Studies, Harvard, Tax, Republicans, Union Locations: Nevada, Clark County, Henderson , Nevada, State

☆ Young families are still fleeing major cities in huge numbers, a 'big surprise' for metros trying to escape the urban doom loop
▼ + stars: | 2024-07-11 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Read previewWhen the pandemic hit, young families fled cities across the US in droves. Overall, domestic out-migration from big cities is still double the rate it was pre-pandemic. "This data is three years out from the start of the pandemic, cities have started to recover robustly on a bunch of different measures." Families with kids under six years old are more than twice as likely to leave New York City than families without young kids, the Fiscal Policy Institute found. Some exurbs — particularly in the pro-development Sunbelt — are seeing young families flood in.

Persons: —, Connor O'Brien, EIG, O'Brien, millennials Organizations: Service, Economic Innovation Group, Business, New York City Locations: exurbs, New York, Chicago's Cook County, San Francisco, Los Angeles, nation's, downtowns, New York City, Exurban, Polk County , Florida, Orlando, Tampa, Montgomery County , Texas, Houston

☆ Montana's housing crisis is a warning for older homeowners across the country
▼ + stars: | 2024-07-10 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Older homeowners who live on fixed incomes are having a particularly hard time managing these rising costs. She blames rising property taxes and insurance costs but notes that inflation, in general, has also squeezed those on fixed incomes. Older homeowners are struggling in communities across the country. AdvertisementThe housing affordability crisis comes as the country is also facing a retirement crisis. AdvertisementMany older homeowners forced out of their housing end up unhoused, part of a growing homeless population in the state.

Persons: —, Beverly Dashnaw, she's, Montana, Policygenius, Dashnaw, it's, Greg Gianforte, Gianforte, you've Organizations: Service, Business, Harvard Joint Center for Housing Studies, Republican, American Locations: Montana

☆ A New York City Airbnb host was shut down under the short-term rental law. He's now renting his basement illegally on Facebook and making crucial income after he was laid off.
▼ + stars: | 2024-07-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

But they're knowingly violating New York City's new law banning most short-term rentals. To comply with the law, they would need to open up their personal living room and kitchen to their Airbnb guests. Less than a year into enforcement of the near-ban, it's not clear whether New York City is achieving this goal, but it has made hotel rooms more expensive. AdvertisementCrucial income after a layoffAfter the city rejected his application, Paul says he was "pissed off" and decided to find other ways to rent the basement out to short-term guests. AdvertisementHave you been impacted by New York City's short-term rental regulations?

Persons: Paul, they're, helpfully, Airbnbs, he's, He's, OSE, fining, —, Airbnb, wouldn't Organizations: Service, Business, York, Queens, New York, city's, Special Enforcement, Facebook Locations: Astoria , Queens, Astoria, Asia, Europe, New York City, Irvine , California, New York, New

☆ Small apartments are in, and it's causing rents in new buildings to drop
▼ + stars: | 2024-07-05 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Developers have built a lot of new small apartments over the last few years, and the boost in supply has driven rents down. Rents for newly finished one-bedroom apartments are also falling — the median rent fell 11.9% year over year in the first quarter of 2024, the report found. More than 90,000 new apartments came online in the fourth quarter of 2023, finishing a big year of apartment construction, Redfin noted. The Redfin report is based on US Census data on "unfurnished, unsubsidized, privately financed rental apartments in buildings with five or more units." Studios and one-bedrooms tend to be more profitable for developers to build than larger apartments, and developers aren't building enough apartments suitable for big families.

Persons: Redfin, you've, Sheharyar Bokhari, — Organizations: Service, Business, Harvard Locations: Redfin

☆ Canada's bold plan to make housing more affordable is showing signs of working — and could be a model for the US
▼ + stars: | 2024-07-03 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Like the American federal government, Canada's national government doesn't have a lot of control over housing policy. Related storiesOverall, the federal push has already been quite successful in changing the housing policy landscape across the country, Moffat said. Over the last several years, an influx of new immigrants, rampant investor speculation, and rapidly rising construction costs have also sent prices up. It would also impose a fine on cities that tolerate "NIMBY" — the anti-development "Not in My Backyard" philosophy — opposition to housing construction. Some American fans of Canada's Housing Accelerator Fund suggest it could be a model for US efforts to incentivize denser and more abundant housing construction.

Persons: i'm, it's, Mike Moffatt, Moffat, —, Justin Trudeau, Trudeau, Matti Siemiatycki, Siemiatycki, there's, densification, Pierre Poilievre, hasn't, Joe Biden's Organizations: Service, Business, Smart Prosperity, University of Ottawa, Housing, Liberal, Infrastructure Institute, University of Toronto's, of Cities, Concordia University, Conservative Party, Investment, Jobs Locations: Canada, Ottawa, British Columbia, Ontario, Alberta, California, United States

☆ The US cities where renters are struggling the most
▼ + stars: | 2024-07-02 | by ( John Towfighi | Eliza Relman | ) www.businessinsider.com time to read: +4 min

Related storiesIn Florida, there are five metro areas where more than 60% of renters are cost-burdened. Two Pennsylvania metro areas were in the top 10 for the highest percentage of cost-burdened renters: State College and East Stroudsburg, at 63% and 61%, respectively. According to the Harvard report, 45% of renters in Stillwater, Oklahoma, are severely cost-burdened, the highest percentage in the nation. AdvertisementCorvallis, Oregon; Port St. Lucie, Florida; and State College, Pennsylvania, are the three metro areas that are in the top 10 for both cost-burdened and severely cost-burdened renters. Home prices and mortgage interest rates have surged in recent years, putting homeownership out of reach for even more renters.

Persons: —, Alexander Hermann, erelman@businessinsider.com Organizations: Service, Harvard Joint Center for Housing Studies, Business, Harvard, Harvard's, for Housing, State College, East, State College , Locations: Naples , Florida, Corvallis , Oregon, Florida, Naples, Marco, Port St, Lucie , Florida, Pennsylvania, East Stroudsburg, Stillwater , Oklahoma, State College , Pennsylvania

☆ The Supreme Court just made it easier for governments to remove unhoused people from public spaces
▼ + stars: | 2024-06-28 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Read previewThe Supreme Court on Friday ruled that it's constitutional for local governments to make it illegal to sleep in public places, even when there isn't sufficient shelter space. The case — City of Grants Pass v. Johnson — is the most consequential the court has decided dealing with homelessness in decades. AdvertisementThe Supreme Court ruled that laws regulating sleeping in public places don't constitute cruel and unusual punishment. Homeless rights activists held a rally outside the U.S. Supreme Court on April 22, 2024, the day the court heard oral argument in City of Grants Pass, Oregon v. Johnson. An increasing number of cities and states across the country have passed laws — often anti-camping ordinances — similar to that in Grants Pass.

Persons: —, Johnson —, Justice Neil Gorsuch, Johnson, California —, Gorsuch, Sonia Sotomayor, Elena Kagan, Ketanji Brown Jackson, Kevin Dietsch, Gavin Newsom, Newsom, Ron DeSantis, Jesse Rabinowitz Organizations: Service, Business, Circuit, Homeless, U.S, Supreme, Democratic, California Gov, Gov, National Homelessness Law Center Locations: Grants, Grants Pass , Oregon, Martin v, Boise, California, City, Grants Pass, Oregon, Florida

☆ Here's where Trump and Biden stand on reining in soaring home prices and rents ahead of their first debate
▼ + stars: | 2024-06-27 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Former President Donald Trump has promised to attack President Joe Biden specifically on inflation. Even as the Federal Reserve has raised interest rates, demand and prices have stayed high, keeping housing inflation stubbornly elevated. Where Trump standsAs president, Trump didn't pursue as many policies directly intended to make housing more affordable. While in office, Trump's proposed budgets included significant cuts to agencies that provide federal housing subsidies, including the Department of Housing and Urban Development. Trump hasn't talked much about housing policy on the campaign trail, despite arguing that Biden hasn't done enough to control housing costs.

Persons: Donald Trump, Joe Biden, Trump, Biden, —, James Marshall, I'm, Kamala Harris, Janet Yellen, haven't, Trump's, suburbanites, Obama, Karoline Leavitt Organizations: Service, Business, Harvard, Federal Reserve, Tax, Union, Republicans, Biden, Department of Housing, Urban Development, Center, Budget, Trump, Homeless, NPR Locations: homeownership, Vegas, State, Nevada, Las Vegas

☆ NYC shuttered 80% of its Airbnbs in an attempt to make housing more affordable. All that's done so far is make hotels more expensive.
▼ + stars: | 2024-06-26 | by ( Eliza Relman | Dan Latu | ) www.businessinsider.com time to read: +8 min

Read previewLast September, New York City began enforcing its strict new regulations on short-term rentals. Since then, the number of legal short-term rentals listed on Airbnb and other platforms has plummeted. Impacts of the near-banLL18 was motivated by the city's housing affordability crisis, caused in large part by a severe housing shortage. Short-term rentals, including Airbnbs, can take homes that would otherwise be lived in full-time off the market, potentially exacerbating the housing shortage. But there's some evidence, including from Irvine, California, that restricting short-term rentals can reduce rents.

Persons: —, it's, Jamie Lane, Lane, hasn't, Klossner, LL18, Eric Adams, TIMOTHY A, CLARY, Scott Stringer, Airbnb, It's, Nathan Rotman Organizations: Service, Business, Mayor's, Criminal, Special, York City, Hotel, Former, Big Apple, New Locations: New York City, New, York, Irvine , California, New York

☆ Some homeowners are doing surprisingly badly, even as their homes grow more valuable than ever
▼ + stars: | 2024-06-23 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

A severe housing shortage has made both buying and renting increasingly unaffordable. Harvard report finds cost-burdened homeowners rose by three million from 2019 to 2022. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A severe shortage of housing, high mortgage interest rates, and strong demand from a growing number of new households have made it increasingly unaffordable to put a roof over your head. The only group that seems to be faring well through this housing crisis are homeowners who locked in low-interest mortgages before rates began soaring two years ago.

Persons: — Organizations: Service, Harvard Joint Center for Housing Studies, Business Locations: Harvard

☆ If you speed in Austria, the government can now confiscate your car and sell it
▼ + stars: | 2024-06-20 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

Traffic deaths have spiked in certain places around the world in recent years. Austria is trying to do something about it, recently passing a law to deter 'super speeders.' European countries tend to have stricter traffic rules and, as a result, safer roads. Like the US, Austria has seen a recent uptick in road deaths. The US has seen road deaths spike recently — in 2021, traffic fatalities hit a 16-year high, and in 2023, deaths were 13.6% higher than in 2019.

Persons: — Organizations: Service Locations: Austria, Austrian

☆ Irish millennials and Gen Zers are being hit hard by the housing crisis. Many more are moving back in with their parents.
▼ + stars: | 2024-06-20 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHousing has become so unaffordable in Ireland that younger people are increasingly moving back in with their parents — or never leaving their childhood homes, to begin with. According to the 2022 Irish census, 41% of people between 18 and 34 years old lived with their parents — a nearly 10% increase from about a decade ago. Among 30-year-olds, 20% were living with their parents in 2022 — a jump from the 13% who were in 2011. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Business Locations: Ireland

☆ Millennials who can't afford to buy homes are helping make suburban Chicago and Miami the most competitive rental markets in the US
▼ + stars: | 2024-06-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +1 min

Miami-Dade County is the most competitive rental market in the US. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWith much city real estate increasingly out of reach and many millennials finally settling down, the suburbs are in high demand. And nowhere is that more evident than in Miami-Dade County in Florida, which is the most competitive rental market in the country, according to a new report from RentCafe.

Persons: — Organizations: Miami, Suburban, North, Nationwide, Service, Business Locations: Dade County, Suburban Chicago, North New Jersey, Miami, Florida, RentCafe

☆ New York City briefly opened its housing voucher waitlist. But getting that assistance is as unlikely as getting into Harvard.
▼ + stars: | 2024-06-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Finding an affordable apartment in New York City has become ever more challenging for low-income people — and an expansion of key federal assistance isn't likely to help much. Ultimately, though, it will only issue 20,000 new vouchers, bringing the total number of vouchers up from about 96,000 to about 115,000, the New York City Housing Authority said. AdvertisementNew York City has the largest housing voucher program in the country, but it still falls far short of need. Discrimination against housing voucher holders by landlords is pervasive, even in places that prohibit it. Fully funding housing vouchers is key.

Persons: isn't, Gothamist Organizations: Service, New, New York City Housing Authority, Harvard University, of Housing, Urban Development Locations: New York City, York City, New York

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