A real estate investment executive with RXR Metropolitan Emerging Market Strategy says that part of the answer to New York City’s housing affordability problem is more suburban development. Denser housing near public transit nodes could ease some pressure on the dire need for affordable homes in the city. This would be an intelligent approach that would create a significant amount of housing without worsening suburban sprawl. The only way to make housing in the region more affordable, he says, is through more development that would not only create more housing but also boost the economy so that incomes rise.
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