CactusBoyScout OP t1_izhbop1 wrote
Reply to comment by LunchMasterFlex in “Adams Plan Would Relax Rules for Developers Amid N.Y.C. Housing Crisis” The mayor proposed reducing requirements that he said slow the construction of new homes as the city contends with a housing crisis. by CactusBoyScout
The state tracks housing vacancy rates. I don’t know the exact criteria but they’ve tracked it for decades.
The rent stabilization law has a stipulation that stabilization ends automatically when vacancies reach a certain percentage that’s considered healthy for a housing market. That has never happened, obviously. They came close during 2020 but still short.
And we saw what happens to rents when vacancies actually increase significantly.
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