Giving Compass' Take:

• As this article reports, accommodating high-productivity workers (the people who make the high salaries) has proved difficult for New York City and it must find a way to facilitate more housing construction to retain these workers.

• The seemingly inexorable growth of higher-paying jobs brings in people who will outbid others for a limited housing supply. How does New York plan to fix this issue? Is this problem occurring in other large states across the country?

• Here's how a focus on housing could spur more diversity in New York's schools. 


Mayor Bill de Blasio’s appointment of New York University law professor and former New York City housing commissioner Vicki Been as the new deputy mayor for housing and economic development comes at a critical time for the city. New York has been the beneficiary of incomparably good economic fortune but has been unable to manage the problem of population growth induced by the ready availability of jobs.

New York sits at the center of one of the nation’s most productive metropolitan areas. A 2017 Brookings study ranked the region seventh among the 100 largest metro areas nationwide in output per worker. High-productivity metros yield bountiful tax revenues. According to the New York City Comptroller’s Comprehensive Annual Financial Reports, in Fiscal Year 2008, the peak of the last business cycle, total city tax revenues amounted to $38.6 billion. By FY 2018, tax revenues added up to $59.1 billion, a 53 percent increase, more than three times greater than the rate of inflation. All that money facilitated large increases in spending on education, social programs, an expanded public workforce, and neighborhood amenities.

Read the full article about housing development in New York City by Eric Kober at City Journal.