“Tonight’s Rent Guidelines Board vote on a preliminary range of rent increases takes place against the backdrop of a citywide housing and affordability crisis, where median rents have skyrocketed to their highest levels. Just last week, a report found that over three quarters of renting households cannot meet the true cost of living, underscoring the urgency and severity of this crisis. We urge the board to account for these economic realities, avoiding proposed increases that are counterproductive to New Yorkers persevering beyond our housing challenges.
“Our city’s nearly one million rent-stabilized units are a significant part of New York City’s housing stock and must be preserved as affordable. Continuing to erode their affordability will only exacerbate our housing crisis and disproportionately harm working people and families in communities of color. This would undermine our goals of keeping New Yorkers safely in their homes to improve the health and safety of our neighborhoods. Our path out of this crisis requires a multi-pronged approach from all levels of government, including prudent decisions from the Rent Guidelines Board, to support stability for tenants and homeowners. For New Yorkers to succeed, we must ensure our city keeps New Yorkers in their homes and provides sufficient access to affordable and sustainable housing.”