“My son, who lives in a rent-stabilized apartment, he can buy food, he can entertain himself, he can buy clothes,” Jean-Bart said.
Researchers from Columbia University’s Center on Poverty and Social Policy presented data showing that 81 percent of rent-stabilized tenants had cut spending because of rising costs, including more than 60 percent who had reduced their food budgets.
The filing says 38 percent of low-income rent-stabilized tenants had experienced severe material hardship during the previous year, including problems such as utility shutoffs, running out of food or being unable to afford medical care.
Are Landlords Also Facing Financial Hardship?
Yes.
The tenant groups acknowledge that some owners are struggling, but argue that the evidence showed the problem was concentrated among a relatively small share of properties.