Are Cities Finally Waking Up to the Housing Crisis?: Editorial

In one respect, New York City’s unusual election results this year fit a national pattern: Voters opted to make housing easier and faster to build. Here’s hoping it’s a trend that lasts.

A lack of housing has become a nationwide problem. High prices and mortgage rates have depressed sales. With rent costs outpacing incomes, nearly half the nation’s growing population of renters pays more than 30% of their income on housing. In New York, the rental vacancy rate has plummeted to 1.4% and the homeless population has soared.

At long last, voters seem to be waking up to ...