News

According to a report on May 22, 2025, by the New York State Association of Realtors (NYSAR), housing inventory rose slightly across New York for the first time in more than a year, while new listings grew nearly 10 percent in March, fueling optimism for a more active spring housing market. Despite a slight uptick in housing inventory and continued mortgage rates below seven percent, existing home sales in New York State declined in April.1 Closed sales of homes fell 6.2 percent in April, from...

Jersey City over the past 10 years has been building new luxury housing and high-rises along the Hudson River twice as fast as New York City. However, the big increase in Jersey City housing supply has not necessarily driven rent prices down due to the consistent high demand and high deficit of housing from the dense population living and working around the New York City areas. This phenomenon has driven many Jersey City locals to more affordable areas such as Newark and Elizabeth, New Jersey....

In May, a few New York landlords along with the Rent Stabilization Association and the Community Housing Improvement Program filed a petition in the United States Supreme Court to consider arguments that the state’s rent stabilization represents “an unlawful taking of property without just compensation.” They claimed that the various rent laws in New York create a wide gap between the rent they receive and the costs they have to expend as a landlord and they are forced to offer low rent, ...