New York City confronts severe affordable housing challenges

New York City is facing a housing crisis, with families struggling to afford rent and seniors worried about retirement. The situation has prompted city comptroller candidate Levine to prioritize affordable housing through the proposed NYC Affordability Fund. The NYC Affordability Fund aims to leverage $2.5 billion from pension funds to create or preserve 75,000 affordable housing units over the next decade. This plan includes improving existing units and constructing new ones while ensuring fair labor practices. Levine's strategy also involves declaring affordable housing a core investment category, removing regulatory barriers to investment, and lifting the Low-Income Housing Tax Credit cap. These measures are intended to unlock funding and support stalled housing projects.