Big Real Estate’s Continuing Stranglehold Over New York City

Manhattan. Image © Paul Clemence

This article was originally published on Common Edge.

Recently, the Nobel laureate economist Paul Krugman wrote in the New York Times about the causes of unaffordable housing in New York City. He blamed the crisis on a few things, including a powerful financial “monoculture” in the city, NIMBYs, and the city itself blocking new construction. That last element, however—that the city blocks new construction—is an increasingly popular myth that needs examination.

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from ArchDaily https://ift.tt/TNqFx6t

Manhattan. Image © Paul Clemence

This article was originally published on Common Edge.

Recently, the Nobel laureate economist Paul Krugman wrote in the New York Times about the causes of unaffordable housing in New York City. He blamed the crisis on a few things, including a powerful financial “monoculture” in the city, NIMBYs, and the city itself blocking new construction. That last element, however—that the city blocks new construction—is an increasingly popular myth that needs examination.

Read more »

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