Odd, then, that the vacancy rate is so low.
Somebody's doing the affording...
I think the headline should read, “The odds of landing affordable housing in NYC are 1 in 1,000.”
Anyway, all that a city means to me is its being a concentration of beautiful women and good food. And one doesn’t need New Yawk for those.
It's called subsidized housing (A/K/A , "rent control")
Mandated and subsidized by the NY State Govt.
Once obtained , the subsidy remains in the family and is treated like a 'beneficiary' heirloom, going to successive generations
as there is always someone in the family who needs inexpensive housing .
Rarely does a "rent controlled" apartment come on the market.