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by franzen
3313 days ago
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It's not supply. It's speculation. >From 2000 to 2010, the population of New York increased by 2.1 percent while the US Census reported that the number of occupied housing units increased by more than twice that amount, 5.3 percent. . . . If we could build our way out of our affordability crisis, the ratio of housing costs to income should have gone down during this period. However, average rents and the share of income spent on rent both increased well above inflation over the same period. [0] [0] https://www.jacobinmag.com/2017/02/new-york-housing-gentrifi... |
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