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Housing Crisis Isn't About Billionaires | Real Estate News
New York’s housing crisis isn’t about billionaires building luxury towers—it’s about a systemic failure to build enough housing anywhere. Former Councilmember Ben Kallos admits he didn’t fully grasp the urgency to build all types of housing, often bowing to local opposition that blocked needed development. While he supported shelters and supportive housing, he didn’t push for housing for the wealthy—despite those towers having minimal impact on overall supply. The real problem? A lack of housing production across the board, especially in wealthy areas where land costs and political resistance…
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