3 ms·
Your article talks about 16k condos over 6y, which is ~3k/y. That's not zero, but that's really not very much housing compared to the ~8M population of NYC. I k
by jefftk 7y ago
Your article talks about 16k condos over 6y, which is ~3k/y. That's not zero, but that's really not very much housing compared to the ~8M population of NYC. I know this isn't the total of New York housing construction, but it's so little you wouldn't expect it to help much.
For example, during the 1920s NYC was building housing at about 7%/y! Housing was much cheaper then, and through the period of low demand, but when demand picked up again we didn't let people resume building at anywhere near historical rates.
- jefftk 7y agoI found total construction numbers: ~25k new units in 2017, depending on how you count (https://www1.nyc.gov/assets/rentguidelinesboard/pdf/18HSR.pdf https://www1.nyc.gov/assets/rentguidelinesboard/pdf/18HSR.pd...) That's only about 0.3% housing growth.