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Q&A
HPD addresses the relationship between housing supply, affordability, and neighborhood choice
0:18:40
·
3 min
Commissioner Dr. Lisette Nieves questions the theory that increasing overall housing supply alone solves affordability and mobility issues, particularly for low-income New Yorkers.
HPD Commissioner Adolfo Carrión Jr. acknowledges the severe supply shortage and low vacancy rate, stating more housing is generally beneficial, but HPD's focus remains on affordable units.
Deputy Commissioner Lucy Joffe elaborates that where housing is built is crucial, emphasizing the need to build in all neighborhoods, including those historically inaccessible, to ensure genuine choice for residents.
- NYC's vacancy rate is extremely low (1.4% overall, <1% for low-income), indicating a severe supply shortage.
- HPD agrees increasing overall supply is necessary but maintains its primary mission is creating affordable housing.
- HPD stresses that both increasing supply and ensuring equitable distribution across all neighborhoods are essential.
- Building housing in previously exclusionary areas is key to providing real choice for New Yorkers.
Dr. Lisette Nieves
0:18:40
Yes.
0:18:43
That's right.
0:18:45
Hi, Commissioner.
0:18:47
Good to see you.
0:18:49
The question that I have for you is the we've seen a lot of studies that say because we have such a low vacancy rate, we should just it doesn't matter what kind of housing we put out there.
0:19:00
If we just increase the volume of housing out there, we will lower rates and thus increase mobility.
0:19:06
Now there are critics of that, and I really hope that you don't have to you could respond to that now.
0:19:11
But I really hope in your testimony or whatever you submit that you really speak to that theory, which is broadly hell, flood the market, prices will go down, and mobility will increase for folks.
0:19:25
So I hope that you can if you wanna say something now, that would be great.
0:19:30
But, also, I I would love to see, some written testimony on that as well.
Adolfo Carrión Jr.
0:19:33
Thank you, commissioner.
0:19:35
I will say this, that the more housing we have, the better it is.
0:19:39
We have a 1.4 vacancy rate.
0:19:42
And if you're a low income family in this town, it's probably under 1% the availability of affordable units available to you or your family.
0:19:55
So supply in general, we believe that it's good.
0:20:02
Our charge is to create more affordable housing for working people and lower income folks and even folks with no income.
0:20:10
And we cover that universe of households.
0:20:13
And it's responsibility as the housing agency of the City Of New York.
0:20:20
But I'm glad you brought that point up.
Dr. Lisette Nieves
0:20:22
Right.
0:20:23
And I just want to make sure that when you respond to that, I think there is broad assumptions around the mobility of all New Yorkers.
0:20:29
And you particularly focus on those that have no income or low income.
0:20:33
If you could also cite and respond to any reports that talk about the differential mobility experiences.
0:20:40
Thank you.
Lucy Joffe
0:20:42
If I can also add on to that You hear us talk a lot about affordable housing.
0:20:47
And absolutely, the commissioner talked about our work around increasing the supply, something that you that we also focus on, and it's why we call it where we live.
0:20:57
Where we build and what we build also matters.
0:21:01
And we believe really deeply it is not an eitheror.
0:21:03
It is a bothand.
0:21:05
So we both need to build as much additional housing as we can.
0:21:10
As much of that to be low cost and affordable is great.
0:21:15
But also, there are parts of our city that have long been closed off to many New Yorkers.
0:21:20
And that is not a historical accident.
0:21:21
It's something we've talked about throughout where we live.
0:21:24
And government has, at times, been part of the problem and, at times, just stood by.
0:21:29
And so a lot of our work, and we think the commission's work, to build on what we have set in motion through City of Yes is ensuring that we can actually follow through with that commitment to build a little more housing in every neighborhood across the city, because New Yorkers should be able to choose the neighborhood that's best for them.
0:21:46
And if there isn't housing in every single neighborhood, they don't have that choice.