On: Manhattan rents cross $5k threshold for first time

[colinmhayes]

NYC apartment vacancy is at 4% compared to 6% nationally. The “vacant apartments and foreign owners are cashing rents to go up meme” is a straight up conspiracy theory.

We need to build more units. It’s really that simple. Any regulation that leads to less units should be heavily reconsidered. Limiting the number of units someone can own would be horrible for increasing supply.

[samstave → colinmhayes]

"`The “vacant apartments and foreign owners are cashing rents to go up meme” is a straight up conspiracy theory."'

Please refute with data

[colinmhayes → samstave]

I just did. Only 4% of units are vacant. The lack of vacant units means they can’t be the cause of rent increases…