New York has lost the opportunity to build more and protect tenants. Blaming Kathy Hochul is only a start.
, have to overcome entrenched NIMBYs in both Manhattan and the outer boroughs. Right now, the political leadership to conjure such a movement is mostly absent.
In Albany, policymaking often happens during negotiations of the enormous state budget, which is due at the beginning of April and is now almost a month late. For generations, legislators have relished smashing together unrelated policy items into the budget because supporting omnibus bills is much easier than taking tough standalone votes. That was the hope with housing—take your time, jam it altogether, and accords can be reached. But the impasse could not be overcome.
The real-estate industry liked Hochul’s housing proposal because it would have meant more business for them. They revile the good cause legislation, which has stalled out in Albany for the last four years, because landlords could not reap, any longer, the dramatic rent increases of the pandemic era. Median asking rents arerent, but would merely offer some of the protections a rent-stabilized tenant enjoys to many more people throughout the state.
, landlords have organized effectively to keep Hochul in their corner and retain the support of tenant-skeptical Democrats in the Assembly.is more perplexing. The program was a rarity in Albany, enlisting backing from both tenant advocates and landlords. Last year, Democrats allocated $250 million for the program, which would have covered housing vouchers for at least 40,000 to 50,000 homeless individuals and those facing eviction across the state.
In theory, Albany lawmakers and Hochul can huddle in the next two months, before the end of the current legislative session, and hammer out an agreement to spur housing construction and safeguard tenants. Perhaps they’ll feel more motivated, having put the budget behind them. But the politics of it all will remain unchanged. Suburban politicians do not want change and Hochul lacks the clout to force it on them.
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