Pierina Ana Sanchez
2:23:52
Well, thank you all to the members of the public, those tuning in, the media, and and all who have attributed to this discussion today regarding the latest findings of the New York City housing vacancy survey.
2:24:04
We hear we heard today testimony that shows that the that New York City's intersecting crises of rising eviction, record homelessness, and housing affordability are only worsening.
2:24:15
The most recent survey vacancy housing vacancy survey highlights as reported by HPD, a vacancy rate of 1.4%, the lowest vacancy rate on record since 1960.
2:24:28
One that shows the survey also shows that nearly 90% of low income New Yorkers those earning $25,000 a year or as HP likes to report under 20% of area median income Over 90% of those individuals and families are housing costs burdened and severely housing costs burdened.
2:24:51
As a result, the council will be evaluating the findings of the HVS in order to determine whether there continues to be a housing emergency in the city of New York that warrants rent stabilization, but we also recognize an eye, also recognize that the response the housing crisis needs to be 3 pronged.
2:25:09
It needs to include conversation and discussions to further housing supply, And importantly, when we're spending taxpayer dollars, it needs to get at the need, which is for those New Yorkers that are earning under $25,000 a year and under 20% of AMI.
2:25:26
We need to continue to look at ways to protect tenants, rent stabilization, in rent regulation is an important component of that, and we will be evaluating its continuance.
2:25:37
And finally, we need to ensure that New Yorkers have the ability to stay and afford our city.
2:25:43
And that is the conversation around income supports, vouchers, city, theft, housing vouchers as well as section 8 and pushing our federal and state counterparts to do more for those New Yorkers that need our support the most.
