Report Claims NYC Housing Regulations Increase Number Of Homeless

A study released by the Trump administration's Council of Economic Advisers claims the homeless problem in New York City could be slashed by 23% if cost-inflating regulations were done away with.

An article published in the New York Post said regulations for zoning restrictions, high-efficiency mandates and rent control cause higher home prices, which can leave prospective homebuyers with few options.

The chairman of the Council of Economic Advisers, Tom Phillipson said, "Over-regulation of local housing markets have reduced supply and raised prices, making the cost of homes out of reach for many people."

The report was met with skepticism by city officials, however.

"I am suspicious of any report that claims deregulation would reduce homelessness, we will review this report," said NYC spokesperson Jane Meyer.

The study revealed that the cities with the highest number of sheltered homeless people are Boston, New York and Washington D.C.

Photo Credit: Getty Images

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