Title: 2010 housing supply report
Description: Housing permits dropped precipitously in 2009, by 82.1%, and were at their lowest annual level since  1995, while the number of completed housing units also decreased, by 8.8%. The City also continued to reduce its share of city-owned vacant and occupied  housing units, seeing a 7.7% decline during the most  recent fiscal year. The number of new units receiving 421-a tax benefits increased 2.0% in 2009, while J-51  tax abatements and exemptions decreased 41.3%. There was also a 50.8% drop in the number of units  accepted in new or converted co-op and condo  buildings. Rental housing availability remains tight,  with a citywide vacancy rate of just 2.91%in 2008, and overcrowding remains a problem. Mayor Bloomberg's ten-year housing initiative has begun development/construction on more than 100,000 units, helping to reduce the affordable housing shortage.
Subjects: Housing, Statistics
Places: New York (State), New York