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Housing Policy Backfires in NYC | Real Estate News
Published 1 week ago
Description
Government housing programs can backfire—like in South Florida and Austin, where supply boomed and rents dropped without rent control. But New York’s 485x program? It’s a mess: caps buildings at 99 units, forcing developers to build bigger, pricier apartments. Result? Higher rents, fewer affordable options, and renters scrambling for older, cheaper units instead.
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