NYC Experiencing Biggest Surge In Residential Construction In Decades

NEW YORK (CBSNewYork) — New York City is in the middle of a housing boom.

Over the first six months of 2015, developers received more than 42,000 building permits for apartments and houses, according to the U.S. Census Bureau. That number outpaces any full year since 1963.

Michael Slattery, senior vice president of the Real Estate Board of New York, called the surge “staggering.”

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