Monday, November 6, 2017

Housing Myths

Housing in Ithaca and Tompkins County is notoriously expensive. Teresa Halpert and Tom Eisenberg explain that many erroneously assume that adding any new housing -- even luxury housing -- will make excess housing filter down to the bottom. This doesn't work. It's too slow. Landlord upscale rather than reduce rents. Worst of all, there are not enough middle-income people through whose hands housing units would have to pass to make filtering work. New projects must be required to include affordable units.