60 percent of New Yorkers could be on the brink of homelessness

November 28, 2016

New Yorkers may be thick-skinned, but the majority are extremely vulnerable — in the financial sense of becoming homeless if they even briefly lose their livelihood, a new report asserts. Over 58 percent of New Yorkers do not have emergency savings to cover such basic expenses as rent or food for three months if they were to lose their jobs, have an accident, a health crisis or legal issue, according to data compiled by the Association for Neighborhood & Housing Development. Thus more than half of the city is vulnerable to eviction, foreclosure, damaged credit and destabilized households, the nonprofit group determined.


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