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This is absolutely false. Every three years, by law, NYC does a housing and vacancy survey of tens of thousands of apartments (the most recent survey was in 20
by Nelkins 6y ago
This is absolutely false. Every three years, by law, NYC does a housing and vacancy survey of tens of thousands of apartments (the most recent survey was in 2017). The raw data is here[0], and selected findings are here[1]. You can see in in the selected findings that the vacancy rate in NYC in 2017 was 3.63%, which is INCREDIBLY low. A "healthy" vacancy rate is closer to 7% or 8%[2].
[0] https://www.census.gov/programs-surveys/nychvs.html https://www.census.gov/programs-surveys/nychvs.html
[1] https://www1.nyc.gov/assets/hpd/downloads/pdfs/about/2017-hvs-initial-findings.pdf https://www1.nyc.gov/assets/hpd/downloads/pdfs/about/2017-hv...
[2] https://www.strongtowns.org/journal/2020/8/30/what-vacancy-rates-tell-you-about-a-housing-shortage https://www.strongtowns.org/journal/2020/8/30/what-vacancy-r...