New York’s Rental Arrears Crisis

In News by Sandra

New York is facing a rental arrears crisis that could result in tens of thousands of evictions, deterioration of living conditions and financial distress in affordable housing buildings. Mounting arrears also pose acute consequences for the city’s public housing. The Bridge Fund participated in the federal government’s Emergency Rental Assistance Program and helped prevent hundreds of evictions. When the ERAP funding ran out, many NY tenants were still in arrears leaving their affordable housing at risk. The Bridge Fund’s assistance remains critical to preserving affordable housing. Read more about this crisis in the report from the New York Housing Conference of March 2023.
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