Answer:
A scarcity or shortage of affordable housing is one example of a scarcity or shortage that New York City (NYC) faces. New York City is well-known for its high cost of living and scarcity of cheap housing options. The city's housing demand considerably surpasses its supply, resulting in soaring rents and housing expenses. Many citizens, particularly those with lower salaries, struggle to obtain affordable housing, resulting in overcrowding or persons being priced out of certain districts. The scarcity of affordable housing is a serious barrier for many New Yorkers and has long been a problem in the city.