‘More empty homes in America than there are homeless people’: Affordability agenda drives NY primary

Housing Affordability Crisis - The rising cost of living, particularly housing, is a crucial problem across America [2] - The median home price in America is $426,600, six times the average annual income [2] - In New York City in 2024, the median home price was $785,000 [2] - Renters across the US are paying over $1,600 per month, while in New York, a two-bedroom apartment averages $5,560, a 175% jump in the last year [2] - New York City has a record low vacancy rate of 14%, indicating a housing emergency [2] - For the bottom 60% of US households, a minimum quality of life is out of reach [3][13] Proposed Solutions and Political Implications - Zoron Mandani won the Democratic primary for New York City mayor by focusing on affordability, promising rent freezes, tripled affordable housing, free buses, and free childcare [1][2] - The government needs to play a role in ensuring affordable housing [11] - Building affordable housing is essential, contrasting with luxury units that remain dormant [8] - Addressing housing affordability can improve life expectancy [15][17]