As part of the Fiscal Year 2024 Executive Budget, Governor Kathy Hochul proposed a package of bills intended to double New York’s housing production rate to create 800,000 new units over the next decade. For years, New York has failed to create enough new units of housing to keep up with rising demand, with per capita housing production that has lagged far behind its peers. 

The Citizens Budget Commission (CBC) supports the proposals to plan and zone for growth. They are in line with CBC’s extensive work on housing and land use, which finds that these approaches would significantly boost production and increase affordability to ensure New York remains an attractive place to live and work. 

Importantly, this package does not require significant public spending to address the housing development crisis; instead, it smartly removes barriers to production and provides targeted incentives. 

CBC’s in-depth work provides a useful guide to the causes of and solutions to the housing shortage. Read more about CBC's support and CBC's research on these essential issues.