I don’t want to say too much about the debate over increased density in Manhattan because, again, ebook proposal. But one reality check on this whole subject is to note that the population of Manhattan 100 years ago at 2,331,542 people. It then hit a low of 1,428,285 in 1980 and has since then risen back up to 1,629,054.
Back in 1910 there were only 92,228,496 people in the United States. Since that time, the population of the country has more than tripled to 308,745,538. And if you look at Manhattan real estate prices, it’s hardly as if population decline in Manhattan has been driven by a lack of demand for Manhattan housing. Back around 1981 when I was born, things were different. The population of the island was shrinking and large swathes of Manhattan were cheap places to live thanks to the large existing housing stock and the high crime.