November 2022

Weekly Report for November 23, 2022

NYSAR to launch education campaign on state’s Climate Action Council recommendations
Speaking to the Albany Business Review last week, Mike Kelly (NYSAR Director of Government Affairs) addressed ongoing actions from the state’s Climate Action Council (CAC) saying, “We have concerns that New Yorkers in large part are unaware of state government and its agencies looking to implement some laws or regulations that are going to have a direct impact on them.” Draft recommendations from the CAC in their scoping plan include prohibiting utilities from installing new natural gas service to existing buildings in 2024; prohibiting the replacement of gas/oil heating and cooling equipment in single-family homes and apartment buildings with up to 49 units in 2030; and prohibiting gas appliance replacements for cooking and clothes dryers in 2035. NYSAR does not oppose the overall goal of reducing greenhouse gas emissions and will be launching a public awareness campaign to educate voters on the recommendations ahead of the release of a final scoping plan at the end of December. “The concern for us is there’s no conversation or analysis or reporting on how this climate action plan and its components impact housing.”

Department of State proposes new cease and desist zone in parts of Brooklyn
The Department of State is proposing the creation of a new cease and desist zone in areas of Brooklyn near East Flatbush, also referred to as Community Board 17. Public comments on the proposal will be accepted until January 23, 2023. Members of the public wishing to provide public comment can email: [email protected]. NYSAR will be providing comments on the proposal and as we oppose the imposition of cease and desist zones which restrict commonly used business practices by licensed real estate professionals. Read the DOS proposal here.

Peconic Bay Region voters approve Community Housing Fund initiative
In November, voters in the Peconic Bay region of Long Island (towns of East Hampton, Shelter Island, Southampton and Southold) approved a new measure to create a “Community Housing Fund” to assist with affordable housing initiatives and will be funded by a 0.5% real estate transfer tax. First-time homebuyers are exempt from the new 0.5% transfer tax. Following voter approval, the new law, which was signed into law in October but required voter referendum, also increases the exemption amounts from the current 2% community preservation fund real estate transfer tax. This will result in an overall tax reduction for homes under $1 million in the region. Read more here.

FHA Issues Private Flood Insurance Rule
On November 21, the Department of Housing and Urban Development (HUD) issued a final rule(link is external) allowing private flood insurance for FHA-insured mortgages in special flood hazard areas. Read NAR’s release applauding HUD’s new rule. Previously, only National Flood Insurance Program (NFIP) policies were allowed for FHA loans. However, a broad NAR coalition helped persuade HUD that many private insurers now offer higher quality, lower cost options than the NFIP; and FHA borrowers should not be excluded from options which have been available to more conventional borrowers since 2019.

Weekly Report for November 18, 2022

Democrat John Mannion holds 27-vote lead; race will decide veto-proof majority in State Senate
State Senate Democrats have declared victory in 41 seats so far following a close race in southern Brooklyn where Democratic candidate Iwen Chu prevailed. The last outstanding race for State Senate is in Central New York and will decide whether Senate Democrats maintain their 42-member veto-proof majority. Currently, Democrat John Mannion leads his Republican opponent Rebecca Shiroff by 27 votes. An automatic recount has been declared and ballots will be hand-counted. Read more here.

Republicans take control of the House
Republicans have successfully flipped control of the U.S. House with a slim majority while Democrats have secured control of the U.S. Senate. Current Republican House Leader Kevin McCarthy will be in line to be the next House Majority Leader, while current Democratic House Majority Leader Nancy Pelosi announced she will not seek the party’s leadership role in the next Congress. Current Democratic caucus chair Rep. Hakeem Jeffries (Brooklyn) has been actively building support to succeed Rep. Pelosi in her leadership role. Read more here.

Weekly Report for November 11, 2022

New York Election Results Summary
As in-person and absentee ballots continue to be tallied across the state, NYSAR can provide preliminary election results, which are subject to change. Overall, it appears Republicans will gain 3 Congressional seats in New York, at least 1 seat in the State Senate with 3 races still being too close to call, and at least 3 seats in the State Assembly with 6 races too close to call. Democrats in the State Legislature are closely watching these “too-close-to-call” races as they will decide whether the Senate and Assembly hold on to their respective veto-proof supermajorities (42 members in the Senate and 100 members in the Assembly). Democratic incumbents swept the ballot in statewide elections for Governor (Kathy Hochul), State Attorney General (Letitia James), State Comptroller (Thomas DiNapoli) and U.S. Senate (Chuck Schumer). Up-to-date election results can be viewed on the NYS Board of Elections website. Click here for a full breakdown of races and analysis.

Weekly Report for November 4, 2022

REALTORS^® Vote! – Don’t forget to VOTE on Nov. 8 (Early voting open until Nov. 6)
This year’s General Election on Tuesday, November 8, will decide statewide offices of Governor, Attorney General, and Comptroller; all 213 seats of the State Legislature (Senate and Assembly); a U.S. Senate seat (currently held by Sen. Chuck Schumer); a statewide ballot referendum on a $4.2 billion environmental bond act; and could potentially decide party control of the U.S. House with New York’s 26 Congressional races.

Ensuring that REALTORS^® make their voices heard by voting in state, local and federal elections is vital to protecting our industry. Early voting polling sites are listed with your county boards of elections. More information on how to vote can be found here.

NYC Council schedules public hearing on bill banning criminal background checks on tenants – NYSAR to testify
The New York City Council has scheduled a public hearing on Int. 632 – a bill that would prohibit landlords and real estate agents from conducting criminal background checks on prospective tenants in New York City, also known as the “Fair Chance Housing” bill. NYSAR opposes the bill as currently drafted and has raised public safety concerns with City Council Members. NYSAR and individual REALTORS^® will testify at the hearing, which is scheduled for December 8, at 10 a.m. at City Hall.

Attorney General James calls for action against deed theft
This week, Attorney General Letitia James’ office called on state lawmakers to make “deed theft” an explicit crime in the state penal code to ease the prosecution of pernicious property thieves. State Senator Brian Kavanagh, chair of the Senate Housing Committee, held a public hearing on the topic receiving testimony from property owners who experienced the fraudulent practice. Read more here.

Buffalo region chamber of commerce cites concerns over Climate Action Council plan
New York’s Climate Action Council (CAC) is scheduled to finalize its Scoping Plan in order to meet the emissions-reduction and clean energy targets of the state’s Climate Leadership and Community Protection Act (Climate Act) in December and into January. The goals include using 70% renewable energy by 2030 and being 100% zero-emitting by 2040. NYSAR believes this plan must realistic, account for energy supply and reliability, and provide full transparency of all costs to property owners and businesses associated with a transition to electrification. So far, the CAC has not acknowledged these concerns. Business groups and other organizations across the state have expressed similar concerns. NYSAR is closely monitoring the issue as it would directly impact housing affordability and development. The Buffalo region chamber of commerce recently published an opinion article on the issue which you can read here.