The Math of Housing Affordability
Housing prices are fundamentally driven by supply and demand:
- Long Island housing stock grew only 2% from 2012-2022
- Population relatively stable, but household formation continued
- Result: Increasing competition for limited housing
- Median home price: $680,000 (double national average)
The only sustainable solution is building more housing. All other interventions (rent control, subsidies) are important but cannot substitute for production.
What's Working Elsewhere
California's SB 35: Streamlined housing approvals have produced 18,000+ housing units proposed, with two-thirds being affordable housing. Approval timelines dramatically reduced.