I've often spoken about the fact that New York City is struggling to build four homes for every thousand people. And Jersey City is at 7, Tokyo is at 10 [homes for every thousand people]. These are examples that we look at that we cannot disentangle from a vacancy rate that is at a crisis level. (17:51–17:55)
CLAIM
Asserts that Jersey City and Tokyo have higher rates of housing construction compared to New York City.
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