Enhancing Affordability in New York City: Insights from Key Policymakers
On May 21, 2026, prominent policymakers convened in New York City to explore strategies for enhancing affordability for families, workers, and small businesses in the region. Organized by The Century Foundation alongside Protect Borrowers, the event featured notable figures such as Deputy Mayor for Economic Justice Julie Su, Manhattan District Attorney Alvin L. Bragg Jr., and Councilmember Harvey Epstein. Their discussions centered on tactical approaches the Mamdani administration could employ to tackle the city's persistent affordability challenges.
Julie Morgan, President of The Century Foundation, emphasized the significance of restoring public confidence through responsive governance. She underscored the administration's preparedness to implement innovative measures, reinforcing New York City's commitment to improving affordability.
Winston Berkman-Breen, Legal Director at Protect Borrowers, highlighted the financial strains on New Yorkers, exacerbated by rising costs of living against stagnant wages. He noted that although the city did not cause these issues, it holds the capacity to enact reforms using existing regulatory tools without needing additional budget allocations or legislative powers.
Lorelei Salas, a Senior Fellow at Protect Borrowers and former Commissioner of the Department of Consumer and Worker Protection, stressed the feasibility of proposed measures. Drawing from her regulatory experience against unfair practices, she expressed optimism in the current administration's dedication to these initiatives.
Launch of Affordable NYC Now Initiative
The event also marked the launch of Affordable NYC Now, an initiative dedicated to crafting policy solutions aimed at affordability in New York City. Seven initial proposals primarily targeting cost reduction were introduced, with further recommendations focusing on corporate accountability and governmental efficiency set for upcoming release.
A new report unveiled during the event highlighted the severity of affordability challenges through detailed zip-code level data. The analysis showed a sharp rise in average monthly debt payments in working-class neighborhoods outside Manhattan from 2018 to 2025, contrasting with more moderate increases within Manhattan, thereby shedding light on the uneven financial burdens faced citywide.
The proposal development saw significant contributions from entities like the American Economic Liberties Project, CAMBA Legal Services, and the Community Service Society of New York, working collaboratively to foster an environment poised to effectively tackle New York City's affordability issues.