New York is the promised land every red-blooded American wants to call home. This is the city where the American dream was born. Millions have come here and grabbed their slice of pie. As per Maxwell Drever, the wealth generated in New York can set your generations for life; hence many people wish to live here.
However, not many can as they struggle to afford the rent in this city. They are struggling because the rent here is the highest in the country. You can easily pay upwards of $3,000 a month for a studio. Thinking about a one to two-bedroom is simply out of the question.
But why is a situation like this in New York? Maxwell Drever believes people struggle to live in New York because it has some of the fewest affordable housing projects in the country.
You ask why? This is exactly what we highlight in this article. We will discuss the challenges New York faces in creating affordable housing. So without any further ado, let’s jump right in. The following challenges are
- New York is Crowded As Per Maxwell Drever
New York is the most populous city in the United States of America. More people live in New York City than in many “States” of America. That’s how crowded New York is, So when you are surrounded by such a large crowd getting any construction work done is nearly impossible.
Billionaires are the worst humanity has to offer. They are greedy, immature people who want everything for themselves. They do not like to share any of their privileges, and their pet projects like “Billionaires’ Row” is a mega reason why New York cannot build more affordable housing.
Because in a space where multiple thousand units of apartments can be built, they use their wealth to buy that property and develop only a few hundred or fewer apartments in the name of “Luxury.”
They have taken up priceless space and converted them into their personal playground, which is why the city can’t build more affordable housing projects.
- Poor Planning
According to Maxwell Drever, the most significant challenge why New York City cannot build more affordable housing projects, which it desperately needs, is decades of poor planning. The local and state-level leadership has failed the city over and over again, and their lack of long-term vision has hurt this city’s residents the most.
- Maxwell Drever Believes Lack of Space = No Affordable Housing Projects
As per Maxwell Drever, the final challenge New York has in developing more affordable housing projects is that the city is out of space. New York is a beloved city, and the will to live here drove private companies to develop housing projects in all parts of the city, and now every borough is full to the brim.
When no space is left, the government cannot build new projects. The best they can do is rearrange their space and provide relief to the low-income population who desperately needs it.
New York City is the most iconic city in America. Many people wish to live here but cannot because this city has some of the lowest affordable housing projects. In this article, Maxwell Drever has described the reasons behind it.
Go through them and let us know in the comments section which reason, according to you, is the gravest hindrance in developing affordable housing in New York City.