The article highlights the severe housing crisis in New York City, marked by soaring rents and a surge in eviction cases, pushing tenants towards homelessness. With a mere 1.4% rental vacancy rate, many New Yorkers are considering leaving the city due to costs. The author advocates for freezing rents and promoting the construction of affordable housing as critical measures in the upcoming mayoral elections. They emphasize that failing to address these issues will exacerbate the crisis, with each rent increase directly correlating with a spike in homelessness.
Freezing the rent is a critical way to ensure that New York remains home to the people who built it and the people who make it sing.
Put simply: as housing costs rise, more tenants face eviction and homelessness.
For every 5 percent increase in rent we have 3,000 more homeless individuals.
I will take a kitchen sink approach that unleashes the power of the public sector to build hundreds of thousands of affordable, rent-stabilized apartments.
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