Strong Rent Regulation is Needed to Address Crisis of Affordability

New York City is facing an unprecedented crisis of affordability. Skyrocketing costs of living citywide threaten to price working families out of their longtime homes and communities. At the same time, thousands of affordable housing units, created as a safeguard against demanding market forces, lapse out of rent regulation laws. New development gleams in almost every corner of our city, promising housing for a fortunate few; meanwhile, nearly 60,000 men, women and children rely on our homeless shelters every night. Another 3,000 face the elements on the street.