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Comptroller DiNapoli calls housing shortage ‘critical’ in scathing report

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  • Staff Report 

A recent report from the New York State Comptroller’s office reveals a critical housing shortage, emphasizing the high cost and limited availability of homes. The findings highlight that many New Yorkers are burdened by housing costs, with three million households spending over 30% of their income on housing, and one in five households dedicating 50% or more. This situation is contrasted with states like Texas, which has significantly increased its housing stock, showcasing New York’s underperformance in expanding its housing options.

The quality of available housing also poses a problem, leading to evictions, foreclosures, and homelessness. Comptroller Tom DiNapoli points out the scale of the issue exceeds the state’s capacity to address independently. However, he notes steps can be taken by lawmakers and the governor to mitigate the situation, praising Governor Kathy Hochul’s Pro-Housing Communities program for its potential to encourage local communities to expand their housing stock.

Additionally, the comptroller’s review of the governor’s executive budget raised concerns over the exemption of at least $160 million from the state comptroller’s oversight. Despite being a lesser issue compared to previous administrations, DiNapoli is seeking to restore these oversight powers to ensure transparency and value for taxpayers in state procurements.

Categories: New York StateNews