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024 was a pivotal year for Yimbys and housing policies in New York City. Despite the mayor's indictment on corruption charges, his signature housing policy was approved, marking a significant shift in city attitudes towards addressing the housing crisis. The state budget included several long-debated measures, such as a new property tax break to replace 421a and an extension of its construction deadline. It also introduced good cause eviction with carveouts.

    The budget lifted the state's cap on residential density in New York City, allowing for higher floor-area ratios when rezoning Midtown South. Office-to-residential conversions may become easier due to a tax break, but some argue that affordability requirements will deter developers from using it. The City Council approved the City of Yes for Housing Opportunity, which eliminated parking requirements, legalized accessory dwelling units, and created a new density bonus program.

    Housing was a key issue during the presidential race, with Vice President Kamala Harris vowing to build 3 million homes in her first term. Donald Trump has not rolled out a housing policy but wants to build on federal land and streamline regulation. The passage of pro-housing policies marked a shift in city attitudes towards addressing the housing crisis.

    However, Mayor Eric Adams' indictment on corruption charges related to real estate development has raised questions about his priorities and relationships with the industry. Challengers have lined up to replace him, but it remains unclear whether they will distance themselves from real estate donations. Comptroller Brad Lander has vowed to restrict real estate donations, while Assembly member Zohran Mamdani has taken a pledge not to accept contributions from for-profit developers.

    The re-election of Donald Trump is also expected to impact Democrats in New York, where he gained considerable ground in 2016. Progressives have pointed to the passage of the FARE Act as an example of how they can respond to his presidency. Next year, we'll be watching how pro-housing policies and the Trump administration factor into local elections and shape state lawmakers' priorities.