Back-to-back years of building more housing and making our city more affordable

Housing Nouvelles

 Back-to-back years of building more housing and making our city more affordable
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If there is one issue that unites New Yorkers from every walk of life, it’s housing.

Our city’s rental vacancy rate is at a historic low of 1.4 percent, which shows how few homes in our city are available for rent; and half of all New Yorkers pay more than 30 percent of their income on rent. The numbers do not lie: our city is facing a housing shortage crisis that effects the cost of living and that must be addressed as swiftly and aggressively as possible.

For the second year in a row, the city has produced the most supportive housing and housing for formerly homeless New Yorkers. And, this year, our administration has also financed the most new affordable homes in history. Just last month, together with Speaker Adams and the City Council, we invested a historic $2 billion in capital funds to the Department of Housing Preservation and Development and to public housing at NYCHA. This brings our investment in affordable housing over the current 10-year plan to more than 26-billion-dollars — a new record level. I know the City Council understands the importance of taking action and look forward to our work together.

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