A report by Democratic mayoral candidate Zellnor Myrie reveals that during Andrew Cuomo's governorship, NYC home prices surged by 77% while rental costs rose by 52%. Despite job growth of 24%, the housing supply increased by only 3%, contributing to a 41% rise in homelessness. Myrie criticized Cuomo for failing to address the housing crisis and pointed out that Black and Asian communities suffered disproportionately due to the housing policies. Even after Cuomo's resignation, housing costs continue to climb in NYC, indicating a persistent crisis under current leadership.
The average price to buy a NYC home soared a whopping 77% during the nearly 11 years Andrew Cuomo was governor, while the cost to rent an apartment grew by 52%.
Andrew Cuomo had over a decade to fix New York's housing crisis. Instead, rents skyrocketed, homelessness rose, housing supply fell short, and he failed to act.
Cuomo's housing policies were bad for all New Yorkers, but they disproportionately harmed the same communities Cuomo is now asking for support from.
Prospective homeowners in Brooklyn and Bronx were hit the hardest, with median sale prices increasing by 104% in both boroughs.
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