Need news in a flash? Here’s what’s happening in your community

Present throughout the nation, many markets with high housing costs can be traced to at least on issue: lack of inventory. Compared to historical trends, data shows East Coast builders are not providing nearly as much housing as prices continue to grow. New York City holds the seventh lowest housing elasticity market. Between 1996 to 2016, housing elasticity in the Big Apple reached a low of 0.06.

Inman profiles the home market and lifestyle of Dumbo, Brooklyn, a creative and relatively small community that has soared in popularity in the 2000s.

As part of a nearly $200 million affordable housing enterprise, BRP Companies recently celebrated the rehabilitation of 468 low-income apartments and broke ground on 242 new units, named Livonia Commons (L2), in East New York.

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