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WSJ - Residential Construction in New York City Lags
August 11, 2014
Residential construction in the city has been slow to rebound after the recession, posing an obstacle to the de Blasio administration's goal to leverage the real-estate market to build 80,000 apartments for low- and middle-income families.
In contrast to other major U.S. cities, the number of units authorized in New York City through building permits remains well below levels before the market crashed in late 2008, according to U.S. Census Bureau figures.