August 16, 2024
On the surface, Kamala Harris’s proposal to provide $25,000 in down-payment assistance to first-time homebuyers looks to be an incentive for upward mobility. Historically, homeownership has been the foundation for wealth creation for those of modest means. On closer inspection, however, down-payment assistance sends the wrong message — not only because already high home prices are likely to…
August 6, 2024
Debate over the potential renewal of the so-called Trump tax cuts of 2017 will be building as their expiration approaches next year. The focus will likely be on corporate and personal tax rates. But there’s a less-appreciated but consequential side effect of the Tax Cuts and Jobs Act: its impact on charitable giving. Simply put,…
February 23, 2024
It’s difficult to avoid seeing Milton’s referendum defeat of a proposed zoning law to permit higher-density housing construction as a signal setback for the state’s effort to pressure towns to make housing more affordable. There’s no getting around the importance of that effort. High housing prices not only burden current Bay State residents but act as a…
February 15, 2024
Harvard University’s Joint Center for Housing Studies is back with its annual State of the Nation’s Housing report—and once again it reaches a bleak conclusion based on a loaded and leading question designed to sound an alarm for more federal housing subsidies. Its key metric is what it calls “cost-burdened renters”—those spending more than a third…
January 15, 2024
Some Americans never register to vote. Those of us who do usually register just once. But over the past two years I’ve registered three times. I might even do it again—for the reason progressives say they endorse: I want my vote to count. In New York, where I live, it isn’t easy. My deep-blue state…
December 31, 2023
New York City residents are facing the ill-effects of drastic, across-the-board budget cuts affecting the most basic city services. It would hardly seem to be the right time for the Adams administration to undertake an expensive new housing program with the city’s own funds. Yet that’s exactly what the Department of Housing Preservation and Development announced last week….
December 18, 2023
Progressives have long claimed that the only problem with New York’s largest collection of slum housing—our public housing projects—has been a lack of federal funding. Former mayor Bill de Blasio liked to blame the decline of what was once the nation’s best-managed public-housing system on someone who left office in 1989: Ronald Reagan. Now, thanks…
December 11, 2023
The post-pandemic rise in rents has fueled the view that the private housing market inevitably fails those of modest means. The left-leaning Center for Budget Policies and Priorities summarizes the idea that the short-term spike in rents merely dramatizes that essential market failure. It asserts that the “rent burden among families with the lowest incomes is a…
November 27, 2023
Those who believe New York City not only needs more housing but more types of housing to serve its many types of households should be cheered by the Adams administration’s support for “granny flats.” These small “accessory dwelling units” built in backyards, converted basements or converted garages can help homeowners pay their mortgages and older adults…
November 13, 2023
Americans like to call ourselves the most generous nation on earth — but charitable giving is on the decline. In 2022, it fell 3.4% (10.5% when adjusted for inflation) to fall under $500 billion. It was only the fourth such decline in 40 years. What’s more, individual giving — distinguished from that of foundations and corporations…