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New York City Faces Escalating Housing Crisis as Thousands Fall Behind on Rent

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New York City Faces Escalating Housing Crisis as Thousands Fall Behind on Rent ldeakins Tue, 01/24/2023 - 11:39 The New York City Housing Authority collected its lowest share of rent payments on record in 2022, and as housing costs continue to soar, the agency faces a dire financial crisis Over 1,600 public housing agencies across the U.S.

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A Quarter of American Homeowners Are Considered ‘House Poor'

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are considered “house poor,” meaning they spend more than 30% of their income on housing costs. are considered “house poor,” meaning they spend more than 30% of their income on housing costs. From 2015 to 2019, the percentage of U.S. homeowners who were considered financially strapped dropped each year, from 29.4

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How Rent Control May Actually Be Hurting Cost-Burdened Tenants

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Additionally, existing rent regulations in costly metros like New York City often don’t include income tests, meaning that those who actually need rent protection are frequently left without that support, while those who can afford hefty rent hikes are able to easily secure rent stabilized units.

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How Rent Control May Actually Be Hurting Cost-Burdened Tenants

Pro Builder

Additionally, existing rent regulations in costly metros such as New York City often don’t include income tests, so those who actually need rent protection are frequently left without that support, while those who can afford hefty rent hikes are able to easily secure rent-stabilized units.

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Critics Question ‘Housing First’ Approach as Homelessness Crisis Worsens

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Critics Question ‘Housing First’ Approach as Homelessness Crisis Worsens. Nearly 600,000 Americans were left without housing in 2020 as a result of surging costs and a rise in unemployment during the COVID-19 pandemic, CNBC reports. In 2019, New York City spent a record-breaking $3 billion to support its homeless population.

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Jericho Project Receives HUD Funding to House Unsheltered New Yorkers

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Jericho Project Receives HUD Funding to House Unsheltered New Yorkers ldeakins Fri, 05/26/2023 - 09:29 The nonprofit Jericho Project seeks to house 90 unsheltered New Yorkers over a three-year grant period with the help of recent funding from the U.S. Read more Affordability Housing Policy + Finance Affordability

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It's Now Cheaper to Rent Than Buy in Every State

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That’s the question many prospective buyers and renters face, and the answer usually comes down to finances. With short housing supply and increasing home prices, renters have found relief in lowered rents in urban areas, sweetening the decision even further, says the New York Times. Housing Markets. metro areas.