The town of Ithaca, New York has taken a major step in helping to prevent the looming economic crisis: They are the first city in the United States to cancel rent.
But what does canceling rent really look like?
“Cancelling rent means we take the brunt of the financial risk of an economic collapse off of every single poor person who’s renting and move that risk up the socio-economic strata.” Says Genevieve Rand, a housing activist who helped to put together the resolution that eventually passed in the city.
