“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

TRD New York /
Sep.September 27, 2018 12:15 PM

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.

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

Related Articles

A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Elsa Segura (left) was arrested in connection to realtor Monique Baugh's (right) murder (Credit: iStock)

Second suspect charged in real estate agent’s abduction, murder

Clockwise from top left: John Gomes, Ronita Kalra, Eric Beniam and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia)

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

157 West 57th Street (Credit: iStock)

One57 condo with reduced ask tops a slow week of luxury contracts

Clockwise from top left: 730 Fifth Avenue, Unit #PH21; 730 Fifth Avenue, Unit #18A; The Pierre, Unit #3101; and The Park Imperial, Unit #64

Priciest homes listed last week include $60M pad at Crown Building