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Otherwise, local planners ought to simply let the market resolve on the amount of parking. Housing planners sometimes use “rent burden” (the share of households paying greater than 30% of income for rent) and “severe rent burden” (the percentage paying greater than 50%) as indicators of reasonably priced housing needs. While “Where We Live” foreshadows some of the components of DCP’s proposals, its focus particularly on the production of earnings-restricted, below-market-charge housing is misplaced. Proposing ambitious zoning reforms whereas tethering new housing that utilizes these reforms to the same MIH policies won’t help housing supply much. To have a reasonable probability of ameliorating the housing disaster, NYC’s housing insurance policies need to focus not solely on rising the number of below-market items produced but on rising the provision of housing at market rents and gross sales prices. Market rents are softening a bit however, as of fall 2022, stay near document highs. By September 2022, the city’s employment was back to about the level of the same month in 2018-not fairly the peak of 2019 but nonetheless indicative of considerable upward momentum. In 2019, the city’s Department of Housing Preservation and Development (HPD) announced a shared housing pilot program, utilizing its present authorized choices.
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