NYC affordable housing not up to snuff

Low income households in New York City face few viable housing options, according to non-profit civic organization the Citizens Budget Commission. Just 10 percent of those households making less than $35,000 currently living in private sector housing pay what qualifies as an “affordable” rate by CBC’s definition — less than 30 percent of the household’s income. Carol Kellermann, president of CBC, said this is due to the relative dearth of available rent-regulated units in the city. “Rent regulation is poorly targeted,” Kellermann said. “It doesn’t provide many low income families with the help that they need.” [Crain’s]