What is really causing a problem is foreign buyers/investors in real estate. Who are buying apartments/condos and leaving them empty. Mostly from China.
The other big problem is the city itself who puts tons of regulations and fees in the way of new construction. To the point it is almost impossible to renovate or fix up... so just leave the slum to rot.
But, never fear, NY city has done all it can to empty out apartments. Raise taxes on everyone, and harass them so much that many are leaving NY City.
But, but, here is the real thing that will make lots of space open up in NY City. The ticking time bomb of VAXXX deaths. Soon there will be lots of empty apartments. And if that isn't enough, the Deep State is planning something destructive for NY.
If you wait just a little bit more, the land that the UN building sits on will be up for sale at cheap cheap prices.
RE: A Housing Plan for NY to Bring Affordability, Will It Work?