New report dropped recently that vacancy rates there are like 2% or less. That is far, far below healthy levels. NYC needs more housing, as does much of the US in places where the jobs are.
I'm sure both would be fine but a lot of people want to live in a place like NYC. They just need to build more housing to accommodate it.
For instance, I'm a single man. I could get numerous remote jobs. This wouldn't help my chances of dating a young professional woman though if I moved out to BFE. Thus, why I'm in NYC. They just need to make more housing. A ton of the projects here in the city are completely frozen.
I'm not familiar with NYC other than a few visits, but my impression is that the city is already very densely populated. Where would new housing go? Is it just more skyscrapers?
Vast majority of Queens is single family housing. All of these could become 5 story walkups easily, especially the western parts and stuff close to the subway. Doesnt have to be skyscrapers.
