Posted by Leonard Steinberg on March 26th, 2014

Many keep asking: where do all these New York buyers and renters come from? While much of it can be attributed to the creation of new households and ‘natural’ selling trends (death, birth, marriage, divorce, desire for change, re-location, etc), equally important are the numbers of people moving to New York City.

61,000 people moved to New York City in the year ending July 1st, 2013, taking New York City’s population past the 8.4million mark according to the Census Bureau. The trend of people gravitating towards big cities continues and New York is no exception. However, Manhattan and the Bronx lost more people to migration than it gained, but made up for that by having more births than deaths. It is estimated that the City’s population has grown by 2.8% since 2010. 73,000 people moved here from foreign countries, mostly to Brooklyn and Queens. The City continues to grow faster than the surrounding suburbs and the move from the suburbs to the city continues, although this trend could reverse if the cost to stay in the City continues its climb.

The need for more new housing is obvious, but it cannot be focused exclusively on the very rich or the very poor: surely those in the middle matter? What about some SEMI-AFFORDABLE HOUSING?