1 in 4 apartments are not vacant. 2017 was the last big survey, yielding a 3.63% vacancy rate for rental units. https://rentguidelinesboard.cityofnewyork.us/wp-content/uploads/2019/08/2019-HSR.pdf …
NYC has the highest population of homelessness since the Great Depression while 1 in 4 apartments are vacant. #HomesGuarantee - @AOCpic.twitter.com/QXTogymtbg
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She must be getting that number from references to the luxury market. Well, these aren't that many and the price or demand will ultimately shift.https://www.nytimes.com/2019/09/13/realestate/new-development-new-york.html …
End of conversation
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Define "vacant"? Official numbers are closer to 5% with the largest I've seen being 11% from here:https://www.6sqft.com/nearly-250000-nyc-rental-apartments-sit-vacant/ …
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If this prompts a discussion about the NYC Housing vacancy survey, then I welcome it. That document is dubious at best.
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Under NYS law, if the vacancy rate rises above 5%, rent regulations are lifted. So either rent regulations are null and void, or this 1 in 4 figure is wrong. I suspect it is the latter.
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