New York City has spent $2.4 billion on migrants and asylum seekers since July 2022, and if the current influx continues, they will cost a total of $10 billion by the summer of 2025, but immigration advocates argue that once migrants are settled into their new lives, they quickly begin earning wages, paying taxes, starting businesses, and reinvigorating neighborhoods.
Its mission to create affordable housing around the world will face “headwinds” from urbanization, climate change, and international conflicts, says CEO Jonathan Reckford.