Yesterday, the City Council passed Melissa’s resolution declaring that we still have a housing emergency and that rent regulations are necessary to enable New Yorkers to afford living here. The demand for rental housing is actually increasing due to the foreclosure crisis and bad economy. Renters can’t afford sky-high rents and rent regulation is necessary to keep New York accessible for middle- and working-class residents.
Melissa commented on the legislation:
Every day, I hear from constituents working two jobs but struggling to pay their rent. With rising rents and stagnant incomes, New Yorkers need help. The average New Yorker living in rent-regulated housing makes just $38,000 a year and many have to pay more than half their income in rent already. Rent stabilization make New York at all affordable for them. Unfortunately, rent regulated housing is disappearing and we have lost about one-third of New York City’s rent-stabilized apartments over the last decade. This resolution affirms that we cannot afford weaker rent regulations and we must instead work to strengthen our rent regulations to preserve the city so that all New Yorkers can live here.