When it comes to housing, New York is a literally a tale of two cities.
About half of the luxury-condo units that have come onto the market in the past five years are still unsold. Meanwhile, 80,000 people sleep in New York City’s shelters or in makeshift shelters on the streets. Many of the sleek glass and steel condo high rises were intended for foreign buyers, but the Chinese economy slowed, and declining oil prices reduced demand from the wealthy Russian and Middle Eastern markets. As a result, many multi-million dollar units are empty.
Affordable housing was central to Mayor Bill De Blasio’s administration, but progress has stalled. The reasons: onerous zoning regulations, limited federal subsidies, construction delays, and blocked pro-tenant bills. Over the past 10 years, New York City real-estate prices have skyrocketed. From 2010 to 2019, for example, the average sale price of homes doubled in many Brooklyn neighborhoods.
The New York City area is losing about 300 residents every day, with a lack of housing a major factor. New York isn’t alone among big cities with an affordable housing crisis. Across the country, the supply of housing hasn’t kept up with population growth. Single-family-home sales are stuck at 1996 levels, even though the United States has added 60 million people since the mid-’90s.
Related Stories
| Sep 8, 2011
USGBC Revises Energy Demand Response Credit
Originally launched in 2010, the revised and enhanced Demand Response Pilot Credit establishes guidelines that are anticipated to increase participation in automated energy demand response programs.
| Sep 8, 2011
Water Safety in Buildings Guide Published by World Health Organization (WHO)
This WHO book provides guidance for managing water supplies in buildings where people may drink water, use water for food preparation, wash, shower, swim or use water for other recreational activities or be exposed to aerosols produced by water-using devices, such as cooling towers.
| Sep 7, 2011
NFPA Fire & Life Safety Conference in December
Presentations on recent Fire Protection Research Foundation projects, how September 11th and the Triangle Shirtwaist Factory fire affected high rise design, and a panel discussion on emerging code issues will be featured at the National Fire Protection Association (NFPA)’s Fire & Life Safety Conference on December 12-14 in Orlando, FL.The meeting will include more than 60 educational sessions in which participants can earn continuing education units (CEUs). Presentations will be led by NFPA staff experts and technical committee members, and will be organized in four tracks – building and life safety, detection and alarm, fire suppression, and codes and standards. For more information, visit www.nfpa.org/FLSCONF.
| Sep 1, 2011
Project Aims to Automate Code Compliance Assessment
FIATECH, a consortium of owners from the industrial, power, and retail markets that build large structures, launched a project this year to validate the use of automation technology for code compliance assessment, and to accelerate the regulatory approval process using building models. Long-term objectives include the development of an extensive, open-source rule set library that is approved by industry and regulatory bodies for use by technology developers and code officials.
| Sep 1, 2011
EPA Says Additional Lead Paint Cleaning Rules Not Necessary
The EPA has concluded that current Lead: Renovation, Repair, and Painting Program (LRRP) cleaning requirements and lead-safe work regulations are sufficient to protect the public from lead dust hazards. “Our members have been instrumental in contacting legislators to detail the detrimental impact of the current LRRP," says Richard Walker, American Architectural Manufacturers Association’s president and CEO. “This collective industry voice has prompted the EPA to make the responsible decision to refrain from adding further, unnecessary costs to homeowners under the current economic climate."http://www.aamanet.org/news/1/10/0/all/603/aama-commends-its-members-congress-for-vacating-lrrp-clearance-rule
| Aug 11, 2010
Best AEC Firms of 2011/12
Later this year, we will launch Best AEC Firms 2012. We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. Keep an eye on this page for entry information. +
