New York City faces a severe housing affordability crisis, with 55% of households rent-burdened and homelessness at record highs. While conventional solutions focus on increasing housing supply through zoning reforms and tax incentives, evidence suggests that these measures fail to curb rising costs because they overlook the root cause: land price inflation. This brief argues for policies that capture land value for public benefit, such as a land value tax (LVT) and Cambridge-style zoning reforms, to stabilize prices and ensure affordability.