The high cost of housing has come to dominate the New York City mayor’s race as voters prepare to cast their early ballots starting Saturday.
Now a new analysis of nearly 40,000 government-funded apartments finds costs are soaring not only for tenants, but for landlords as well driven by a steep increase in insurance premiums. Authors of the study say the solution, at least for this subset of low-income housing, isn’t raising rent on tenants. Instead they suggest curbing the skyrocketing costs with more rental assistance, new city and state funding for repairs and strategies to limit escalating insurance hikes.
Enterprise Community Partners and National Equity Fund, two organizations that finance affordable housing, examined expenses for 428 developments with 37,130 apartments, where ren