There's a reason why housing in NY-12 is so unaffordable.
John,
New York’s 12th district is facing a longstanding housing crisis. Families are being pushed out of their homes in Manhattan, Queens, and Brooklyn due to skyrocketing rent, stagnant wages, ignored tenants rights, and investors preferring the dollar value of commercial real estate to the community around it.
In my district, 73% of the houses are occupied by renters instead of owners. For comparison, the New York average is 46%. Around 19% of those occupants relocate every year, up from New York’s average of 10%. Home ownership in the 12th district is dishearteningly costly, with the median value of a home being over $1 million.
This means that more families and individuals are having to move more frequently, depriving the majority of residents of the security of homeownership.
Homelessness in our city is at an all-time high since the Great Depression with the number of adults sleeping in shelters and on the streets rising by 142% in the last ten years. In just the last year deaths of homeless in New York increased by 39%.
