The New York Housing Freedom & Affordability Act | JSA2026
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🏠 The New York Housing Freedom & Affordability Act
“Safe, stable, and truly affordable homes — for renters, owners, and communities.”
The Problem
- 1 in 3 New Yorkers spends over 50% of income on rent — far above federal affordability benchmarks.
- Vacancy rate sits near 1.4% statewide in some regions — forcing bidding wars and flight of young families.
- AMI “affordable” units are pegged to inflated regional averages, not real household budgets after energy, medical, and debt costs.
- Small landlords are squeezed by taxes and regulations while luxury developers secure 40-year abatements.
True affordability must reflect real life — not abstract AMI charts.
Core Plan: Housing Freedom & Affordability Act
- End AMI Shell Games. Redefine affordability using net income after essential costs. Publish a “Real Affordability Index” per county.
- Prioritize Families & Seniors. Require all state-funded developments to reserve 30% of units for seniors, veterans, and working families.
- Fair Zoning Partnership. Restore local power over rezonings. No blanket “City of Yes” — communities get a seat at the table.
- Regional Housing Trusts. Pool state, county, and local funds to support co-ops, land trusts, and affordable units near transit without overloading infrastructure.
Tax Fairness for Housing
- No tax hikes on small homes. Stop unfair reassessments and inflation-indexed hikes for single-family owners.
- Senior Homestead Relief. Zero property tax for seniors over 65 earning under $100k.
- Fix Multi-Family Overcharges. Correct effective tax rates on rentals that run up to 5x higher than small homes — costs that bleed into rents.
Unlocking Vacant Units
- Audit and rehabilitate 28,000+ rent-regulated units left idle by red tape.
- Reform rent laws to allow necessary repairs (MCIs/IAIs) without forcing landlords into bankruptcy — while locking in affordability covenants.
Converting Commercial Into Housing
- Offer zoning fast-tracks for office-to-residential conversions in downtowns, Main Streets, and struggling malls.
- Pair with small-biz revitalization credits so commercial corridors don’t hollow out.
Protecting Small Landlords & Owners
- Reverse laws that made it impossible to recover costs for basic repairs, while protecting tenants from gouging.
- Fix squatter loopholes and restore due process so rightful owners aren’t bankrupted.
- Protect responsible tenant screening (criminal checks, payment history) to keep buildings safe.
Day One Actions
- Freeze all new property tax increases pending review of fairness reforms.
- Sign executive order for “Vacant Unit Rapid Rehab” — clearing backlogs in permitting, DOB, and HPD approvals.
- Launch statewide Office Conversion Authority to fast-track proposals with community oversight.
- Publish draft legislation redefining affordability metrics statewide.
Metrics & Transparency
- Affordability Index Dashboard. Publish real rent vs income data per county, with AMI replacement benchmarks.
- Vacant Unit Tracker. Quarterly reporting on rehabbed and re-leased units statewide.
- Conversion Pipeline. Public map of office-to-housing projects, approvals, and occupancy timelines.
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