“In 1890, Jacob Riis photographed and documented the inhumane conditions of tenements in New York City: the lack of light, air, space, and basic sanitation. Today, 132 years later, much of New York City’s housing stock is still bad: unsafe water, broken elevators, mold, lack of heat, roaches, and rats.”
Corporations exist to make profit. In the housing context, corporate landlords extract as much profit from their investments as possible. The results are rent increases, cost-cutting on building maintenance, reductions in building-wide services, low-cost or inadequate repairs, and evictions.