Brooklyn, long seen as the less expensive New York borough when compared to Manhattan, could soon be losing that reputation as prices for apartments in the borough shoot through the roof thanks to a market that’s running short of inventory. Although there’s a lot of demand for homes in Brooklyn, home hunters in the borough are finding that there just aren’t enough vacant apartments for them to move into, thereby giving sellers the upper hand in an increasingly tight real estate market.
Anyone who has spent any time wandering around Manhattan's former real estate hot spots over the past year has probably noticed the relative dearth of new construction residential projects, but people notice a lot of things wandering around Manhattan. But while there's no hard data proving that everyone on the Upper East Side owns a tiny dog, say, the where-have-all-the-new-construction-condos observation turns out to be right on. 
