The tri-state region, and especially New York City, produces a considerable amount of affordable housing through the use of public money, such as tax-exempt bonds, tax exemptions, and direct subsidy. But they are not always used in the most efficient way. These subsidies should be targeted toward meeting the greatest housing needs, such as very low-income rental housing, first-time homeownership, and affordable homes in high-opportunity neighborhoods. In many cases, a bidding process should be created to prioritize subsidizing developments that create the most high-need housing for the least amount of subsidy.
