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New York City is facing a severe housing crisis, with a rental vacancy rate that has plummeted to a historic low of 1.4%, the tightest market in over 50 years, as reported by multiple sources including 'nytimes', 'politico', and 'carlquintanilla'. The crisis is affecting a wide range of New Yorkers, from working families to the homeless, and is prompting urgent calls for action from lawmakers such as 'RepBeccaB' and 'RepDavidTrone', and city officials. Congress is considering measures to address housing supply, affordability, renter protections, and rural priorities. Meanwhile, about 40% of those facing eviction are children, totaling approximately 2.9 million nationwide. In response, initiatives are being proposed, such as the low-income housing credit, to boost affordable housing. Additionally, New York City's government, with 'NYCMayor' and the Dept. of Social Services Commissioner Molly Park, is launching programs to create subsidized housing for homeless New Yorkers through CityFHEPS vouchers and an initiative to establish 1,500 permanent affordable homes for those in the shelter system, as highlighted by 'NYCMayorsOffice' and 'SallyGold'. The citywide vacancy rate's drastic drop has been highlighted as a significant factor contributing to the rent burden on New Yorkers.