November 17, 2024
Affordable Housing—and No Tax Hike
On Nov. 5, Denver’s voters rejected Affordable Denver, a half-cent sales tax increase for subsidized housing. The tax hike would have burdened working families while failing to address the root causes of unaffordable housing. But the vote’s outcome opens the door for a better solution — not only in Denver but also in other Colorado…
November 9, 2024
NYC Safe Injection Sites Reduce OD Deaths—but Not in the Worst Neighborhoods
There is a glimmer—the slightest bright spot—of good news about drug overdoses in New York. The city’s Health Department reports that overdose deaths in 2023 declined compared to the previous year—but they fell just one percent, from 3,070 to 3,046. A close look at that number reveals not only is it tiny, but that an important indicator…
November 5, 2024
Never Let a Crisis End
New York City’s perennial housing crisis—the city has regularly declared a housing “emergency” since 1971—is back on the city council’s agenda, with two proposals to address it. On the surface, the two plans, one championed by Mayor Eric Adams, the other by City Council Speaker Adrienne Adams, seem complementary; both promise more housing. But a…
November 5, 2024
Harvard Professor Edward Glaeser on the U.S. Housing Crisis
Why are U.S. housing prices so high? Edward L. Glaeser, the Fred and Eleanor Glimp Professor of Economics at Harvard University, is an expert in housing and urban economics. His work highlights the relationship between housing supply, urban growth, and economic prosperity, offering insights for policymakers to create more sustainable and equitable urban environments through…
October 15, 2024
Lefty NYC Council Add-Ons to Mayor’s ‘City of Yes’ Would Worse Housing Crisis
Eric Adams’ chance for a lasting legacy hinges on his ambitious zoning and housing proposal dubbed “City of Yes” — poised to come before the City Council next week. But as some community groups seek to derail the plan, the hard-left council looks ready to undermine it — and convert it to the “City of Yes, But.” The key to Adams’…
October 11, 2024
HUD’s Housing Misfire: When Bureaucrats Know Better than Markets
Kamala Harris’s proposal for a $40 billion fund for local governments to explore “innovative” housing solutions will likely funnel money into projects burdened by self-defeating government-mandated affordability requirements, which HUD loves but markets abhor. By further empowering federal bureaucrats, it will do more harm than good. The case in point is the Department of Housing…
October 10, 2024
Harris’s Housing Plan and the Five C’s That Will Derail It
Kamala Harris’s latest campaign ad pledges to “end America’s housing shortage by building 3 million new homes and rentals.” However, her plan is unlikely to significantly increase the overall housing supply. The cornerstone of her proposal is an expansion of the Low-Income Housing Tax Credit (LIHTC)—a program plagued by the Five Cs: Rather than expanding the LIHTC…
October 8, 2024
Harris Housing Subsidies: A Recipe for Repeating Past Mistakes
Presidential candidate Kamala Harris has proposed housing policies that recycle ineffective strategies long seen in federal housing programs. Her key proposals include subsidies for the construction of 3 million new housing units over four years and $100 billion in down payment assistance to first-time homebuyers. Unfortunately, history tells us her plan would be worse than…
October 2, 2024
AOC’s “Social Housing” Dead End
New York representative Alexandria Ocasio-Cortez, an avatar of the progressive Left, recently shared her vision of how America’s housing shortage should be addressed in a New York Times op-ed cowritten with Senator Tina Smith of New Jersey. Ocasio-Cortez’s vision resurrects the debunked Great Depression-era argument that the private housing market is fundamentally flawed and must be replaced by…
September 25, 2024
The Costs of Inaction: Economic Risks from Housing Unaffordability
Chairman Whitehouse, Ranking Member Grassley, and committee members, thank you for the opportunity to testify on this most important topic. History offers a cautionary tale against inappropriate federal action in the housing market: From the 1930s to 2008, Congress passed and presidents signed into law at least 43 housing, urban renewal, and community development programs. Despite their lofty…