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DiNapoli reports outlines New York's housing crisis

Feb 15, 2024 12:55 am

Mid-Hudson News reports that a new report from New York Comptroller Tom DiNapoli found that one in five New York households pay more than half of their household income on housing. Almost three million households in the state have housing costs larger than 30 percent of their household income. DiNapoli said, “For too many New Yorkers, finding and keeping an adequate and affordable place to live has become more and more difficult.... Rising costs are stretching household budgets and forcing trade-offs with other essentials, like food and health care.” New York ranked 32nd in the nation with just a 5.7 percent increase in housing units between 2012 and 2022. DiNapoli said, “The consequences of housing insecurity are wide-ranging and while low-income renters are the most cost-burdened, these financial pressures are increasingly felt by middle class households.... Action is needed by all levels of government.” Read more about this story at Mid-Hudson News.