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The housing shortage in New York is driven by a lack of housing supply. Home construction in New York City lags far behind other major American cities. [4] Since 2010, housing supply in New York City has increased by 4% while jobs have increased by 22%. [4] Restrictive zoning regulations are a key contributor to the undersupply of housing, as ...
New York City vacancy rates hit a historic low in February. NYC vacancy rates are so low—and affordable housing is so sparse—that a super PAC has formed to elect politicians to build more ...
In March 2016, affordable housing advocates in New York City were pleased when a judge ruled that an Upper West Side SRO facility (the Imperial Court Hotel) could not rent out rooms for less than 30 days, a short-term tenure that would favour tourist rentals over lower-income long-term renters. In New York City, some public figures have been ...
The city implemented a law in 2021 intended to return apartments used as short-term rentals back into permanent housing. Last year, New York City took one property owner to court, saying the ...
HPD is currently in the midst of New York City Mayor Bill de Blasio's Housing New York initiative to create and preserve 300,000 units of affordable housing by 2026. By the end of 2021, the City of New York financed more than 200,000 affordable homes since 2014, breaking the all-time record previously set by former Mayor Ed Koch.
While the New York City council ... — since these conversions typically take place in wealthier neighborhoods — and direct the funds toward providing income-restricted affordable housing. ...
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