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REBNY sues the City of New York to stop FARE Act enforcement

Three days after New York City’s Fairness in Apartment Rental Expenses (FARE) Act became law without the signature of Mayor Eric Adams, the Real Estate Board of New York (REBNY) has filed a lawsuit to stop the bill’s enforcement in June 2025. The New York State Association of Realtors, Bohemia Real Estate Group, Bond New…

New apartment construction hasn’t lowered rents in many areas

Rent prices have fluctuated alongside home prices in this year’s housing market. More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. Seattle-based brokerage Redfin released a report this week that highlighted a 1.5% increase in asking rents for newly constructed apartments in 2024…