A new report details how dire the apartment inventory has become across the five boroughs.
New York City sounded the alarm this week after a report shed further light on the city's housing crisis.
Not since 1968 has New York City seen its vacancy rate drop to such a startlingly low percentage, city officials emphasized Thursday. Mayor Eric Adams said the numbers show demand to live in the city is far outpacing the ability to building housing. “To meet this need and turn the tide on our long-standing housing crisis, we need action from colleagues across the City and State to support our housing agenda, and to advance proposals and projects that will allow us to build and preserve more housing in every neighborhood across the city," Deputy Mayor for Housing, Economic Development and Workforce Maria Torres-Springer said.
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