Could it be the end of the building boom rearing its head? The number of residential permits issued in the city in the first quarter dropped by 46%. All five boroughs saw decreases, with the Bronx leading the way with a 64% decline. Permits in Brooklyn and Queens fell 52% and 40% respectively. The comparison, though, is to 2007 which had the largest number of permits since 1972. [Crain's]
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