ML-Implode News - More Than Half Of New Yorkers Are One Paycheck Away From Homelessness, Says Study

Nearly 60 percent of New Yorkers lack the emergency savings necessary to cover at least three months' worth of household expenses including food, housing, and rent, but that statistic isn't spread evenly across the five boroughs... landlords are increasingly claiming "chronic rent delinquency" after just a single late payment, which allows them to begin eviction proceedings earlier on than they would otherwise.
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As DNAinfo notes, advocates say that rental assistance is crucial in preventing homelessness citywide, especially in neighborhoods where rents rise faster than incomes--many of which overlap with the neighborhoods where families lack adequate savings.
And although an increase in rental assistance services like the one proposed by Queens Assemblyman Andrew Hevesi could cost the cost $450 million in state and federal funding, it would be more cost-effective than allowing more families to enter the chronically underfunded shelter system.

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More Than Half Of New Yorkers Are One Paycheck Away From Homelessness, Says Study