At a June 26, 2026 forum convened by the Change Capital Fund (CCF) in partnership with the Federal Reserve Bank of New York and HR&A, Deputy Mayor Leila Bozorg described NYC’s housing challenges: The city’s vacancy rate is 1.41%. Over 50% of renters are “rent burdened.” Over 90,000 people, a third of them children, sleep in the shelter system on a given night. Rising costs and an aging housing stock are contributing to physical and financial distress. Displacement pressures continue to bear down on low-income renters, even those in rent stabilized properties.