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Council Member Sanchez highlights low homeownership rates and racial disparities
1:20:31
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103 sec
Council Member Pierina Ana Sanchez discusses the low homeownership rates in New York City, particularly in minority communities. She emphasizes the stark contrast between her district's 6% homeownership rate and national averages, linking this to historical racial discrimination.
- Sanchez points out that 94% of her district's residents live in rental housing
- She highlights that her district is over 98% Black and Latino with a median income of $23,000 per worker
- Sanchez questions HPD about their plan to address these disparities and increase homeownership opportunities
Pierina Ana Sanchez
1:20:31
Thank you.
1:20:31
Thank you so much, chair, and good morning, everyone.
1:20:35
First, I just wanna thank the speaker and the chair chair chair, Salamanca, for this hearing and at least sparking this conversation in public.
1:20:42
It's it's really important.
1:20:44
In in Speaker Adams and Chair, Salamanca's remarks, they highlighted how low the homeownership rates are in New York City.
1:20:51
So 30% New York City, 53% in the state, and almost 70%, 65% nationally.
1:20:58
In my community, fully 94%, as you will always hear me say, 94% of our 170,000 residents and 55,000 households live in rental housing, only 6% owned.
1:21:11
This is one of the lowest homeownership rates in the city.
1:21:14
We're also over 98% black and Latino, with a median income per worker at $23,000.
1:21:20
This is our neighborhood is as strong an example as there can be of the horrific legacies of redlining discrimination and other policies.
1:21:30
Other racist policies of the past.
1:21:33
HPD, you've we've talked about the fractional amount, relatively fractional amount of new construction that is going to homeownership.
1:21:41
So my first question is about where we live.
1:21:44
About the city's plan to affirmatively further fair housing, which you have pursued even in the face of federal administrations that have deprioritized it, the last administration.
1:21:54
So what what does each PDs where we live plans, say about what the city should be doing, about homeownership opportunities, and the racialized impact.
1:22:03
And what is the city doing to change that neighborhoods of concentrated poverty like mine, like come chair salamanca's and others?
1:22:11
Have such low homeownership rates?
1:22:14
So