Name: High Construction Costs Continuing to Push Rents, Housing Prices in New York City: Affordable Housing Advocate
Uploaded: 2024-08-24T03:34:18.000Z
Description: Listing service RENTCafé says half a million apartments will be built in the United States in 2024, which is a new record. The organization also expects 2 million new apartments to become available by 2028. But there is one metropolitan area producing more new units than any other city: New York City. Does this trend mean New Yorkers could see housing prices coming down soon?

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Listing service RENTCafé says half a million apartments will be built in the United States in 2024, which is a new record. The organization also expects 2 million new apartments to become available by 2028. But there is one metropolitan area producing more new units than any other city: New York City. Does this trend mean New Yorkers could see housing prices coming down soon?

To find out more, NTD spoke with Michael Gecan, an advocate for affordable housing and a contributor to the book "Housing the Nation: Social Equity, Architecture, and the Future of Affordable Housing."

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