NYC Housing Policy Update

“The housing sector is not out of the woods yet,” said NAR Chief Economist Lawrence Yun.

Four major procurements that comprise the remaining construction packages for the new tunnel are also impacted by the federal funding pause.

Comptroller Levine emphasized that the Adams Administration’s FY26 spending levels, which exceed revenue, and failure to properly budget for known, re-occurring expenses, have led to unusually high budget deficit projections for FY26 and FY27.