Anyone else worried about affordability of NYC in upcoming months/years?

[netryan]

Obviously it doesn't have to only be 250 sq ft micro-studios. Maybe a mix of 250 sq ft and 500 sq ft. I'm not sure why people think that having a bunch of small studios is just going to be a "big party". Pretty much any adult, no matter what age has to either have roommate, make good money, or already be rich to live in Manhattan. A lot of i.e. 40 year olds do the roommate thing here in NYC also and wouldn't mind having a small space. With the politics in NYC unlikely to change, it seems the only real solution may be to either increase supply or decrease demand. Maybe if Blasio brings all the crime back, that will fix the problem.

[NYCMR]

This idea of 200,000 micro-apartments is interesting from a supply-side perspective. I guess the logic would then predict that that there would be less need for apartment sharing and something like 100,000 two bedroom apartments would become available to the market, ideally driving down prices for these units. It would be interesting to find out if there would be some way to model this to figure out if the premise would hold true. Although, alternatively, why not just build 100,000 two bedrooms apartments, although then there are major implications for schools and traffic.

[laffeyhomes]

With land costs and construction costs rising, it'll be hard to build market-rate rental buildings without deep government subsidies that come with the affordable housing. You may want to consider buying a home instead as long-term investment.