Affordable Housing
The affordable housing crisis in New York City is pushing thousands of working families out of a city they love but can no longer afford.
Why is it happening? New York City has lost hundreds of thousands of units of affordable housing units through a rent law loophole called “vacancy decontrol.” When a family in a rent stabilized apartment moves out, landlords can often “deregulate” the apartment and charge whatever they want for the next tenants - even double or triple the old rent.
It means even as the city builds new affordable housing, even more is being lost. If vacancy decontrol isn’t ended soon, middle-class families won’t be able to afford the city they call home.
Unfortunately, New York City can’t save affordable housing on its own, we need Albany’s permission to change the law.
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