Do New Yorkers need to cram into cubbyholes to bring prices down?
At a recent conference organized by the Citizens Housing and Planning Council (covered by the New York Times, Crain’s, and City Limits), we heard a familiar refrain about New York City’s building stock: regulations have not kept up with the times, and there is a shortage of affordable units available for single adults, in particular. The result is widespread illegal conversions and dwellings – anywhere from 100,000 to 500,000, depending on who you ask – which, while mostly tolerated, are obviously not ideal, especially with regards to fire safety….
