Joint Statement from Speaker Adrienne Adams and Housing & Buildings Chair Pierina Sanchez on the U.S. Supreme Court’s Denial of Legal Challenge to Rent Stabilization Law

 

“New York City needs more truly affordable housing, not less, and preservation of existing units under the Rent Stabilization Law enables New Yorkers to afford and remain in their homes. The Supreme Court’s decision today to deny a case challenging the legality of rent stabilization follows previous court precedent and is a welcome relief for New Yorkers. In the face of a national affordable housing shortage, the Rent Stabilization Law remains necessary in order to prevent harmful rent increases that threaten the stability of families and communities. As our city continues to confront a housing crisis that undermines affordability, contributing to record homelessness and a rising number of evictions, programs that preserve affordable housing must be a focus of our city, state and federal governments to protect from potential threats.”