Cannot speak for the poster, but the big current issue is that the value of residential units has gone from being strongly linked to wages to residences being an extremely valuable chip for playing financial games. Residences, especially inherently valuable ones like NYC apartments, have sufficient demand from financial game players that wage earners are barely able to keep up. Exactly how things break down is not clear, but there is this idea that demand for residences for financial purposes is competing aggressively with people who want homes.

Because I grew up in Brooklyn and Queens and saw what all of the new development did to the demand. The street that my grandmother used to rent an apartment for in the early 2000s for under $1k/month now only has units that go for $5K/month.

Here's greenpoint as an example: https://www.zumper.com/rent-research/new-york-ny/greenpoint. Same goes for LIC.