Governor Kathy Hochul has signaled a forthcoming executive action to address the state’s housing crisis following a failure to reach agreement with lawmakers on legislative proposals.
The governor emphasized the need for a supply-side solution, asserting the need to build more housing to lower costs.
“We need units built, otherwise, landlords will always be able to charge more because it’s a simple matter of supply and demand,” Hochul said.
Although specific actions were not detailed, she hinted that her plan might involve expediting construction of affordable housing or leveraging state funds to expand tax incentives for building and maintaining units.
Lawmakers, while agreeing on the need for increased housing, insisted on the inclusion of tenant protections in any housing plan. Because of this, action was not taken on any of the core matters Hochul originally proposed.
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