The Wall Street Journal recently published an article stating that, in aggregate, there night be reason to believe that New York City housing is in some respects becoming more affordable. However, a deeper analysis suggests that this simply isn’t the case. Throughout the five boroughs, a significant portion of the population, based on median incomes, is priced out of even “affordable” housing units. Therefore, steady and reasonably-priced housing remains consistently out of the grasp of many New Yorkers.
- A recent WSJ article suggested that NYC housing is actually becoming more affordable for a large part of the population.
- However, an analysis of the data suggests that that simply isn’t the case.
- Indeed, NY rents remain out of the grasp of a large number of working-class New Yorkers.
“But are things as rosy as the WSJ (and, predictably, groups representing landlords) seem to think? The short answer: probably not.”