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New York

“We overstated the pace:” Stringer admits flaws in affordable housing report

Report said city lost more than 1M apartments for $900 or less since 2005, but actual number is less than half that

City Comptroller Scott Stringer at the Tuesday morning event (Credit: Pngtree)
City Comptroller Scott Stringer at the Tuesday morning event (Credit: Pngtree)

New York City Comptroller Scott Stringer’s recent report on affordable housing  included a major calculation error.

The report, which Stringer released at a Tuesday morning event, claimed New York City had lost more than 1 million apartments between 2005 and 2017 that rented for $900 or less. However, the actual number is much lower at 425,492, according to the Wall Street Journal, citing an updated version of the report.

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Additionally, while the original report said the number of apartments renting for $2,700 increased by 238,000 between 2005 and 2017, they actually increased by 111,000.

The mistake occurred when a staffer working on the report multiplied a number in a formula rather than dividing it, which led to several errors.

Stringer’s spokeswoman Ilana Maier said in a statement to the Journal that, “While it remains true that affordable housing is declining at an unsettling rate and the gap is still growing, we overstated the pace.” [WSJ] – Eddie Small

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Affordable HousingScott Stringer