"Today's decision provides some degree of clarity on an issue that has been debated for a long time, although the scope of its impact will take more time to know. Creating and preserving affordable housing in a city with a growing population has been one of our most important priorities. The tenant protections provided by the State's rent regulation laws have long been an essential measure to ensuring New York City accommodates people with a broad range of incomes, and today's decision means fewer units will fall out of the system than otherwise would have. But we know that - despite the ruling - the regulations still don't provide affordable housing to enough New Yorkers. That's why we created and are implementing the nation's largest municipal housing plan to create and preserve 165,000 affordable units - units with protections that go beyond rent regulation laws and maintain affordability based on New Yorkers' incomes."