NYC Housing Affordability Crisis: Median Home Prices Hit New Record High

NYC housing affordability crisis: Median home prices hit new record high

STATEN ISLAND, N.Y.-- Amid an ongoing housing affordability crisis, buying a home in New York City is now more expensive than ever before, according to a new study.

Explaining America’s housing affordability crisis

New York City’s mayoral race was dominated by one issue, the lack of affordable housing in America’s most expensive city. Brookings Institution Senior Fellow Andre Perry says, “The supply is not meeting the demand… We’re not building the kinds of homes and units” needed to address an affordability crisis that has spread nationwide.