The ability of struggling New Yorkers to pay rent is in crisis, especailly since Covid. I propose the following:
1. Rent Limits. A new program that guarantees no low income city resident pays more than 25% of their income for rent (up to $30,000 single, $50,000 family). The city/state will subsidize the remainder. The same for Mom & Pops owned by city residents.
2. Landlord Increase Limits. All landlords must tag rent increases to the Consumer Price Index (CPI), hovering for years at 2%. Additional rent increases needed must be demonstrated by needed improvements (new boiler, roof, etc.)
3. NYCHA must be rebuilt once and for all. No more disgrace of people having no heat or hot water, or families and young children breathing in mold.
Here are more reforms I support:
Impose a luxury tax on foreigners & millionaires living in luxury buildings largely empty all year. Taxes from this can fund subsidies to needy families. Control soaring rents, but let's not demonize landlords. They pay for costly repairs, oil, supers, and mortgages. We can't ignore their needs either.
Minimum wage must be raised (perhaps in a 2-4 year time frame) to $15. The minimum wage in the 1960, adjusted for inflation, would be in hte 15-17 range today. It is absurd to think that people should work full time yet not earn enough to payrent or living expenses. Society will mange. Price may rise for hamburgers and such, but in being a rich nation, and a great civilization, we are judge not by how the rich live but by how we treat the poor. Treat the poor fairly - in a word, they should not live porrly.
Health Care is another matter where fairness is inportant. It is notfair that peole work full time without health insurance, or through current exchanges get insurance with such ridiculously hish deductable as to make such health plans irrelvant. Every hard working New Yorkere deserves a life of good health that is affordabel. After all that is why the oridignal 2010 legislation was called The Affordable Care Act (sorry, it was not called "Obamacare.")
Further, we must end the games corporations play. They may not be required to provide health care insurance to workers working 30 or less hours/week, No! This must end. Businesses of a certain size must pay their fair share. Government can chip in, but New York State law must abolish this cynical and irresponsible practice.
Rent Controls have their problems. A sophisticated program is needed. Subsidies can help. In principle, place limits on how much rent can be raised. Let's not demonize landlords. Most are responsible people who saved money, invested in realestate, and took on great debt to do so: mortgages, superintendants, building maintenance, taxes. They deserve rent and income, but within reason.