> Increasing supply brings down prices. But a builder will not build at a loss or an imminent threat to their rental income from expansion of rent freezes. > >

> Increasing supply brings down prices. But a builder will not build at a loss or an imminent threat to their rental income from expansion of rent freezes. > > A city with an expanding rent-freeze is not inviting new supply. Builders build rent stabilized housing ("affordable apartments") in tandem with market rate unsubsidized units. There is an enormous backlog of development proposals that the city council has been sitting on for a while now. Vacancy rates in NYC are 1.4%. anything under 5% is defined as a critical housing shortage. New housing is in such extreme demand that people pay $5k/mo for a shoebox.