PRESENTATION
Economic impacts of the housing crisis on businesses and job growth
0:24:48
·
31 sec
Garodnick explains how the housing crisis negatively affects businesses and job growth in New York City. He emphasizes the ripple effects of high housing costs on the local economy and potential job creation.
- High rent costs reduce discretionary spending, harming local businesses
- The housing shortage results in fewer jobs in construction and residential maintenance
- The City of Yes proposal is estimated to add about $58.2 billion to New York City's economy
- The proposal is projected to create more than 260,000 jobs in the construction and service sectors alone
Daniel Garodnick
0:24:48
This housing crisis hurts businesses and job growth when people are spending their money on rent.
0:24:53
They have less to spend on other things.
0:24:55
Harming local businesses, less new housing, fewer jobs, results in fewer jobs of construction, residential maintenance.
0:25:04
We estimate here that this proposal would add about $58,200,000,000 to New York City's economy and create more than 260,000 jobs in the construction and service sectors alone.
0:25:15
Next slide.
0:25:19
Okay.
0:25:19
Let's talk about the details here.
