NYU Report Describes City in Housing Affordability Crisis

In the high-octane world of New York City real estate, billionaires parking cash in exclusive Midtown condos and co-op boards interviewing dogs only reveal part of the picture.

An NYU Furman Center report released Thursday portrays a city in crisis: Population growth has outpaced the increase in housing supply, while a rising rate of financially strapped residents pay a growing share of their incomes in rent. At the same time, the stock of housing available to low-income renters has been falling, according to the report, which evaluated 16 years of data.

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