Gov. Gives ‘Bad News’ & ‘Good News’ About New York State’s Future
New York State's governor is giving some "good news" and some "bad news" regarding New York State's future.
"You take the good, you take the bad You take them both and there you have the facts of life."
Good News For New York State
Gov. Kathy Hochul took to Twitter to share the "good news" and "bad news." The good news is New York has and is creating many good-paying jobs, officials say.
"Here’s the good news: New York is creating thousands of good-paying jobs," Hochul said.
In the past 10 years, New York State has created 1.2 million jobs, according to Hochul's Office.
Bad News For New York State
Now the bad news, New York isn't building enough homes, according to Hochul.
"Here’s the bad news: New York isn’t building enough housing and workers are struggling to find homes they can afford," Hochul said.
In the past 10 years, despite creating 1.2 million jobs, only 400,000 new homes were made across New York State, Hocul's office reports.
Between 2000-2019 Downstate New York has 516,00 fewer housing units than jobs. There's a drastic difference when you compare nearby states.
According to Hochul's Office, Northern New Jersey has 195,000 more units than jobs while Connecticut has 48,000 more homes than jobs.
How To Address 'Historic' Housing Crisis In New York State
The New York Housing Compact is part of Hocul's 2024 Executive Budget.
The New York Housing Compact is Hochul's plan to address " New York’s historic housing shortage" by building 800,000 new homes over the next decade.
"The New York Housing Compact will encourage growth by removing barriers to housing production, incentivizing new construction, and setting local housing targets across every New York community," Hochul's Office stated in a press release. "By expanding housing production, the New York Housing Compact will make it easier for families to live and thrive in New York, for employers to accommodate the workers that they need to keep their businesses growing, and for our great state to expand fair access to quality housing."
New York Budget Still Not Passed
The deadline to approve New York's 2024 budget was April 1. Lawmakers are still working to make a deal.
Hochul says the biggest issues that still need to be worked out are affordable housing, bail reform and minimum wage.