Congressman Pat Ryan, who before going to Congress was the Ulster County executive, has introduced in Congress a package of four bills designed to address housing needs in the Hudson Valley and lower housing costs for Hudson Valley families. The four bills are in addition to seven other bills dealing with housing needs to which Ryan has signed on as a sponsor. Ryan represents New York’s 18th Congressional District.
Key provisions of the new bills include lowering mortgage rates, cracking down on Wall Street firms jacking up housing costs, incentivizing development, and cutting through bureaucratic red tape to unlock increased federal support for local priorities. Ryan’s initiative has the support of the Kingston-based housing nonprofit RUPCO, and the organizations Hudson River Housing, and Rebuilding Together Hudson Valley.
Ryan’s bills are titled The Working Families Housing Tax Credit Act, The PRO Housing Act, The Deliver Housing Now Act, and The Mortgage Rate Reduction Act.
“We’ve got a housing affordability crisis in the Hudson Valley, and we need all-hands-on-deck to bring housing costs down. That’s why I’m introducing a bold agenda to attack every angle of the housing emergency, with solutions focused on the specific problems facing our Hudson Valley community,” Ryan said.
According to Ryan’s office, since 2020, the Fair Market Rent for a two-bedroom apartment has increased by $428 in Orange and Dutchess Counties, and $490 in Ulster County. In the same period, single-family home prices have risen by 47.1%. These increases are far outpacing wage growth, leaving the average Hudson Valley family over $150,000 short of being able to buy a home, and $28,600 short of renting a two-bedroom apartment.
“RUPCO applauds Congressman Pat Ryan’s commitment to addressing the critical housing needs in our community through his new housing agenda,” said RUPCO CEO Kevin O’Connor. “The proposed legislation, particularly the Working Families Housing Tax Credit Act and the PRO Housing Act of 2024, will have a profound impact on ensuring that hardworking families in the Hudson Valley have access to affordable, quality housing. By incentivizing developers and cutting through zoning red tape, these initiatives pave the way for innovative housing solutions that are desperately needed in both urban and rural areas.”
Ulster County Executive Jen Metzger expressed a belief that Ryan’s bills will “help move the needle in a major way on affordable access to rental housing and home ownership opportunities for our residents who need it most.”
