90. Ross Karp - 2023 Annual Conference: Why is Housing so Unaffordable? Causes and Solutions

Today we were lucky enough to speak with Ross Karp. Ross is the Downstate Development Director of Home and Community Renewal (HCR), an agency within New York State. HCR is part of the state’s Executive branch and is in charge of administering housing policy. When you think of homebuilders, who do you think of? If I had to guess, you were probably thinking about real estate developers or even construction companies. And while they are important factors in our analysis, they are only one piece of the puzzle. State and local governments have a huge influence on housing outcomes, and getting their policies right can be tricky.  Building new homes requires grants and loans, navigating zoning regulations, and ensuring building codes and standards are met. But doing this all quickly and in large quantities is an uphill battle, to say the least. That’s where state and local government institutions come in. They can either facilitate this process or slow things down and hinder construction. That’s why I’m thrilled to have our guest on today. New York’s Governor, Kathy Hochul, created a housing plan with $25 billion in funding. As Development Director, Mr. Karp helps oversee these funds and achieve New York’s goal of maintaining and revitalizing communities. Mr. Karp received his bachelor’s degree in philosophy from the University of Chicago, and his master’s in city planning from MIT. He has extensive policy and governance experience working for both the City of Chicago and New York and within the State of New York. Together we discussed some of the housing initiatives under Governor Hochul, a few financing options available to developers, and why New York struggles to increase the supply of housing. We hope you enjoy this talk, and make sure to check back on our page every week for a brand-new episode!  To check out more of our content, including our research and policy tools, visit our website: https://www.hgsss.org/