Bloomberg Businessweek: NYC Rental Market Pushed to Breaking Point by Tenant Debts

 
 
Bloomberg Businessweek
 

NYC Rental Market Pushed to Breaking Point by Tenant Debts

Stopgap measures are keeping renters in their apartments, even as their bills stack up.
 
By Prashant Gopal | July 8, 2020
 
Covid-19 is pushing New York City’s affordable housing crisis to a breaking point.
 
Look at 25-year-old Jessica Lee and her husband, who needed four roommates to afford their $4,000-a-month four-bedroom apartment in Brooklyn’s hip Bedford-Stuyvesant neighborhood, a relative bargain in the Big Apple. Now her husband and everyone else in the house have all lost their restaurant jobs and she’s the only one still working—at a company making hand sanitizer. The landlord is threatening legal action to collect the $20,000 in back rent. “Nobody is hiring in the food industry,” she says. “I’m on the hook, because I am the only employed person on the lease."
 
Read the full article, here.
 
 
 

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