New York City, like other major U.S. metros, is drumming up initiatives in an attempt resolve a severe shortage of affordable homes as demand has grown rapidly and prices continue to soar. The shortage of low- and middle-income housing could be alleviated by legalizing the conversion of basements into apartments, according to a report by the Citizens Housing and Planning Council, which noted that between 10,000 and 38,000 basement units could be converted under the initiative without changing the city’s Zoning Resolution.