The New York City Condo Shortage and Why Fewer Homes Are Being Built for Buyers
New York City continues building apartments, but fewer are being developed for buyers. New research projects a 74% decline in entry level condominium construction in Core Manhattan, while the 2019 rent laws, expiring property tax benefits and changing development incentives are reshaping homeownership. What does the New York City condo shortage mean for buyers, sellers and the future of the housing market?
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