The data suggests New York City's housing crisis is only getting worse. The 1.4 percent rate was down from 4.5 percent in 2021, the last time the survey was conducted. New York officials consider a vacancy rate of less than 5 percent to be a housing emergency.
The scale of the problem is putting more pressure on officials to do something about it. High housing costs continue to force families and working class people out of the city, threatening the economy.
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