The Governor of State, New York City

Governor of State Address

RE: Housing Shortage and a Possible Solution

Dear Governor of the State, New York City,

The primary aim of writing this letter to you is that I am saddened and concerned about the current housing shortage in New York City. As a student at LaGuardia and a resident of New York City, I have realized that the demand for new houses has increased, and the new housing supply is still lacking behind. Over the last decade, the an apartment’s median rent increased by 75% in New York City relative to other parts of the United States which increased by only 44%.Additionnaly, approximately 1.5 million individual live in overcrowded housing facilities in new York City. Additionally, overcrowding increased from 7.6% value to 8.8% between 2005 and 2013 which is an indicator of the housing problem in the State. As a result, I believe that there is a need to rethink some of the innovation incentives by placing the dependence on grants, expanding on the adoption of prizes, and avoiding the reliance on patents and subsidies. I feel that this is becoming a major problem for New York City dwellers since there is an increase in rent values and the number of units belonging to low-income earners is dwindling (Ivory and Colton). Due to the rising housing problem and housing affordability challenge, I propose that the government should eliminate regulatory barriers at each level, adopt innovative construction technologies and engage in creative finance since it will permit people to affordable houses through mortgage and loans.

Based on the current condition, I believe that eliminating regulatory barriers at the federal, state, and local levels will permit more apartments and homes to be built in New York City, which will curb the cost and time of building. If New York City needs to make significant advancements in addressing housing problems and affordability, one of the primary policy levers that I would like you to implement is eliminating or removing building barriers. Currently, work is already in progress to achieve good regulatory policies in both public and private sectors for housing affordability in other States (Ivory and Colton). An exemplary instance of private sector that New York City can copy or imitate is Symbian. The platform is located in San Francisco and is based on the computational law platform capable of mechanizing the regulations and the rules of planning code to assist design professionals, homeowners, and planners to quickly establish whether a dwelling unit is permitted in a specific location. In doing so, I believe that such an innovation will ensure that workers can access and understand the type of housing facilities allowed in New York City (Ivory and Colton). I belie that in doing so, it will give New York City an avenue of curbing regulatory barriers and showcases the potential for other processing innovations associated with zoning and planning.

As a New York City governor, I believe that you may also solve the housing problem and affordability challenge through innovation to increase productivity, build faster and reduce costs. New York City governor could also borrow from what other States are doing. For instance, In California, Entekrasa concentrates on off-site framing is a true example of an innovative idea that penetrates on leveraging home building capability and productivity. In doing so, I believe that it will help to curb costs and time. For instance, in the area of multifamily housing, as the New York City Governor, I believe that you should establish more programs such as the FullStake modular that will be capable of combining modular housing with fresh innovation and automation in the construction industry, which ensures exemplary control level, scalability, and predictability to multifamily development.

As the Governor of the State, I believe you can solve the New York City’s housing problem through creative finance. I am certain that with more creative finance techniques, there will be a high chance more affordable rental housing will be available to New York City’s residents. For instance, as the governor of one of the most prominent cities in the World, I believe that you should collaborate with some well-established companies in the real estate sector to ensure that they partner with managers and building owners to provide low-cost insurance as an option to the feared cash security deposits. In other words, whenever an individual seeks to purchase a house, they should be granted a choice to choose the traditional security deposit or the low-cost insurance. You should also advise some real estate companies in New York City to adopt the crowdfunding approach since it may be instrumental in seeking investors and helping future home buyers (Ivory and Colton). I opine that relying on such creative financing options will be vital in solving the affordable housing and housing problem the country is facing currently.

As I conclude, I would like to restate that due to the increasing housing challenge and housing affordability problem, I believe that as the governor of New York City, you should establish strategies that will help remove regulatory barriers, engage in creative financing options, and rely on innovative construction technologies since it will help more people access affordable housing income earned. Eliminating barriers at federal, local, and state levels will allow home managers and owners to construct more housing which will be crucial in meeting the ever-growing demand for houses. Once you adopt innovative construction technologies in the real estate and home sector in New York City, it will built houses faster, increase productivity and curb construction costs. Although these solutions may need time to realize their benefits fully, with your help and ability in leadership, I believe it can help solve the housing shortage problem in New York City when implemented effectively.

Thanks in advance and am looking forward to a better New York City because I believe in your abilities

Yours Sincerely

Works Cited

Ivory, Abby and Colton, Kent. Innovative solutions for the housing Crisis. (2020). Accessed on 30th June 2021 from: https://ssir.org/articles/entry/innovative_solutions_for_the_housing_crisis

Kholodilin, Konstantin A. "Housing policies worldwide during coronavirus crisis: Challenges and solutions." (2020).

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