A story yesterday in Atlantic Cities, the city-focused offshoot of The Atlantic magazine, pins the high cost of Brooklyn real estate on zoning restrictions. As the argument goes, zoning restricts housing supply, causing demand to exceed availability. While it’s certainly true that demand is high in the parts of Brooklyn closest to Manhattan, the author unfortunately chooses Williamsburg as his leading example. Apparently he is unaware of the new-construction building boom in Williamsburg and the rezoning that led to it. What do you think is pushing prices up in Brooklyn?
Brooklyn’s Affordability Crisis Is No Accident [Atlantic Cities]