New York City mandates that a lot of luxury high rises set aside a certain percentage of units for lower income housing. That still hasn’t stopped NYC rents from being astronomical, and the units set aside for low income housing are oversubscribed.
I’m still not sure whether there actually is an “affordable housing” problem. 63% of US households are owned, not rented. Every time I see a story about affordable housing, it has to do with a desirable neighborhood in a desirable city that already had a high cost of living in the first place. It seems to be an issue that mainly preoccupies the thoughts of young working professionals.