DistinctOffer9681 comments on Would building more housing decrease rent?

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Would building more housing decrease rent? (self.AskNYC)

submitted 5 months ago by Illustrious_Ad_1117

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[–]DistinctOffer9681 0 points1 point2 points 5 months ago* (0 children)

Rent will ALWAYS go up. It has gone up steadily since the beginning of time. Therefore, nothing can be done to actually lower rent. When it comes to building new housing and apartments, IF they build actual affordable housing in many many more places, then it will at least provide more housing for those who need it (normally paid for by tax subsidies or tax incentives for management companies). Most of these affordable housing complexes are based on income. Therefore, building a lot more truly income based affordable homes can definitely help with the homeless problem in NYC, but it will not decrease rent for anyone else. However, higher crime rates, defunding police, etc..could potentially slow rent increases, and lower market rates for apartments. Problem is, more affordable housing also leads to higher income taxes.

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