By Michael J. Wolkoff
Booklet through Wolkoff, Michael J.
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Extra info for Housing New York: Policy Challenges and Opportunities
26 There has been no evidence to indicate this trend has reversed since 1983. This leaves only $250 per month for the rest of their budget—not nearly enough to pay for life's other necessities. Affordability problems of this magnitude are common for the poor, not only in New York City, but across the entire state. Rather, we seek to develop a sense of the balance between potential demand and supply. An additional 9,200 units would be defined as affordable to the next income decile, but considered too expensive, by this measure, for the poorest grouping (column 3).
25 Further, the affordability index may not reflect the housing cost burdens faced by families too poor to purchase the median priced home or those who live in rental housing. 26 There has been no evidence to indicate this trend has reversed since 1983. This leaves only $250 per month for the rest of their budget—not nearly enough to pay for life's other necessities. Affordability problems of this magnitude are common for the poor, not only in New York City, but across the entire state. Rather, we seek to develop a sense of the balance between potential demand and supply.
This chapter focuses on trends in housing demand, changes in household composition, and the aging of the state's population. Regions where housing demand outstrips supply may be particularly vulnerable to affordability problems. 44 To estimate future levels of housing demand, these population projections are combined with two estimates of average household size based on historical trends. The baseline estimate of housing demand for the year 2000 is calculated by dividing the projected New York State population by the average household size of 1980.