Shaun Donovan Lies About Housing

...referring to the mayor’s plan to create or preserve 165,000 units of lower-priced housing by 2013. “No other single change that we will make, or new policy, will have as broad an impact.”

Except getting rid of rent controls.

Comrade Bloombergs Statism machine rolls on. Him and the rest of them think that affordable housing is the result of legislative fiat. Not that it every worked previously:

The 421-a program, which costs the city hundreds of millions of dollars a year in forgone tax revenue, was begun in the 1970s to spur housing development. Under the program, developers could get a 10- to 15-year exemption from the increase in taxes that resulted from their work...

When the real estate market in Manhattan revived in the 1980s, the program was modified to require developers in central Manhattan to build lower-cost units if they wanted the tax break.

The same initiative failed in the 70's, it failed in the 80's and it will fail again to provide anything but profit opportunities for the politically connected.

Also note the newspeak in the article - "affordable housing advocates" - which seems to be a euphemism for looter