Building our way out of this crisis is only one piece of the puzzle. We also need to better leverage our housing inventory, especially in places where land is scarce and building new homes is difficult. One way to do that is through policies like a tax surcharge on second homes in the New York City (or a pied-à-terre tax) designed to get mostly unused apartments back on the housing market. Such a tax has been proposed in Albany before, although it hasn’t gotten far.
Read the full op-ed by RPA's Moses Gates in City & State.