November 2024

Weekly Report for November 29, 2024

Tell Governor Hochul and State Legislature to say NO to making housing less affordable
New York has made housing affordability a priority, however a new proposal to require fire sprinkler systems in all new one- and two-family homes could increase the cost of building a home in New York by up to $30,000. Tell Governor Hochul and state lawmakers to say NO to making it even harder to buy a home in New York. Visit https://yourhomeyourdecision.com/ to Take Action and learn more.

State Supreme Court overturns Poughkeepsie Emergency Tenant Protection Act
On November 22, the Dutchess County State Supreme Court overturned the Emergency Tenant Protection Act declaration in the City of Poughkeepsie. With financial backing from NYSAR via its Legal Action Committee, the Hudson Valley Property Owners Association sued the cities of Kingston, Newburgh, and Poughkeepsie over the methodology of their vacancy studies, and filed a federal lawsuit against a 2023 law to standardize the study methodology. Read more here.

State Senator Sean Ryan announces mayoral run
State Senator Sean Ryan formally announced his candidacy for Buffalo mayor. He is the first of what is expected to be a crowded field of candidates seeking the Democratic Party nomination for the primary election in June 2025. Other possible candidates include former Buffalo Fire Commissioner Garnell Whitfield, and current Acting Mayor Chris Scanlon. Read more here.

Weekly Report for November 22, 2024

New York City Council introduces NYSAR-supported bill to increase transparency in coop purchases
On Thursday, the New York City Council introduced legislation (Int. 1120) at the request of NYSAR that would increase transparency in the coop application and purchase process. The bill has been introduced by City Council Majority Leader Amanda Farias from East Bronx. Similar to prior versions, this bill would establish reasonable timelines for coop boards to acknowledge receipt of applications and respond to a prospective purchaser. NYSAR strongly supports this legislation and will work in conjunction with NYC-area local boards to increase sponsorships and support for the bill.

New York City Mayor and City Council reach deal on “City of Yes” housing plan
The New York City Council is poised to approve next month a scaled-back version of Mayor Eric Adams’ “City of Yes” zoning plan under a deal with City Hall that will come with $5 billion in housing and infrastructure commitments with a $1 billion pledge from Governor Hochul in next year’s state budget. An agreement was made to maintain rules that require a minimum number of parking spaces based on the size of the building in lower density districts rather than eliminate them entirely, put some limits on adding “accessory dwelling units” and slightly downsized the size of more dense transit-oriented development districts near LIRR stations in southeast Queens and parts of The Bronx. Read more here.

Weekly Report for November 15, 2024

NYSAR to launch campaign opposing mandated home fire sprinklers, advocating for consumer choice
NYSAR is in the process of launching a public campaign opposing a state proposed mandate that would require homebuyers to install fire sprinklers in all new 1-2 family homes – increasing construction costs up to $30,000. Visit NYSAR’s new campaign website at www.yourhomeyourdecision.com to learn more and tell Governor Hochul and Albany lawmakers to oppose this unfunded mandate that will increase housing costs at a time when the state should be working to make homeownership more affordable.

NYSAR’s targeted ad campaign statewide is urging REALTORS® and the public to take action before a December 6 deadline when the State Code Council could adopt the proposal. Click here to learn more and please share the link.

NYC Council approves FARE Act – NYSAR calls on Mayor Adams to veto bill; legal challenge being considered
On November 13, the New York City Council voted 42-8 approving legislation (Int. 360-A, FARE Act) prohibiting real estate brokers from collecting a broker fee from a tenant when not representing such tenant. NYSAR and other industry partners expressed strong opposition to the bill, organizing REALTORS® to testify before the Council, meeting with individual Council Members, and launching a city-wide Call for Action.

NYSAR is calling on New York City Mayor Eric Adams to veto the legislation while also considering legal action challenging the validity of the FARE Act. Read NYSAR’s Statement on City Council vote here.

Study projects NYS population to decline by more than 2 million over next 25 years
A study released by Cornell this week projected that New York State’s population could shrink by more than 2 million people over the next 25 years – a decline of more than 13 percent. The data’s projections show that if demographic trends go unchanged, the state’s population will continue to decline. Read more here.

Gov. Hochul to relaunch congestion pricing with $9 base toll
Governor Kathy Hochul is expected to propose a 40 percent cut in the congestion pricing tolls already approved by the MTA for entering Manhattan south of 60^th Street, bringing the $15 base toll for passenger cars down to $9 per day, and the $3.75 late-night rate down to $2.25. The plan will also reduce the tolling credits – discounts given to drivers who already paid a toll to enter the city by tunnel – by 40 percent, from $5 to $3. The modified plan is not expected to introduce any new exemptions or exceptions. Read more here.

Weekly Report for November 8, 2024

New York City REALTOR^® Call for Action – Call your Council Member Today
The New York City Council is scheduled to vote on legislation (Int. 360-A, FARE Act) this Wednesday, November 13 that will eliminate the ability of a landlord, or their agent, to collect a broker fee from a tenant in rental transactions. The amended bill will:

restrict dual agency,
empower New York City agencies to issue fines on real estate licensees and landlords,
assumes that any broker advertising an open listing rental unit works for and is being paid by the landlord,
allow a tenant to sue a broker over a purported violation,
would prohibit landlords from paying the fee for a tenant’s broker,
and result in higher rents for tenants.

Please Take Action by calling your City Council Member and urge them to vote NO on this misguided legislation. When speaking to the Council Member or their staff, please highlight the fact that this legislation will undoubtedly lead to higher rents for tenants and limit housing access. Access the Phone Call Action Alert, call instructions, and view a sample script and talking points by clicking here.

2024 General Election Summary
Democrats in the State Legislature maintained large majorities in both the State Senate and Assembly following the November 5 general election. Incumbent state lawmakers fared well, by and large, with a few exceptions. As it currently stands, Democrats in the State Senate have likely held onto at least 40 seats (42 seats is needed for a supermajority). One seat in the 50^th Senate District in Central New York between Chris Ryan (D) and Nick Paro (R) remains too close to call with less than 600 votes separating the candidates. In the State Assembly, Democrats appear to have increased its supermajority under Speaker Carl Heastie to 103 seats (100 seats is needed for a supermajority). Several incumbent Assemblymembers, both Democratic and Republican, are in danger of losing their election according to unofficial vote tallies. Read a full summary here.

Weekly Report for November 1, 2024

REALTOR® Call for Action – NYC Council weighing vote on Broker Fee Ban legislation
The New York City Council is reviewing amended legislation (Int. 360, FARE Act) that would prohibit the collection of a broker fee from a tenant by the landlord to pay for the landlord’s agent. The amended bill could be voted on in the coming days. The amended FARE Act would also allow a tenant to sue a broker over a purported violation of the FARE Act, empower the City to issue fines, assumes that any broker advertising a rental unit works for and is being paid by the landlord, and would prohibit landlords from paying the fee for a tenant’s broker. NYSAR will continue to express opposition to the bill before the City Council and will keeps members informed on any updates. REALTORS® living and working in New York City, Take Action and tell your New York City Council Member you oppose this bill here.

NYC Council proposes housing plan in response to Mayor Adams’ “City of Yes”
On November 1, New York City Council Speaker Adrienne Adams announced the Council’s new housing plan proposals in response to Mayor Eric Adams’ “City of Yes” zoning reform proposal. The City Council’s plan, “City for All,” includes additional proposals calling for deeper affordability in housing, increased homeownership and housing preservation efforts, stronger tenant protections, and better use of housing vouchers. Further details on the plan can be found here.

New York State races could sway balance of power in Congress
The outcome of next week’s election in seven New York congressional districts – three on Long Island, two in the Hudson Valley and two upstate – could determine which party controls the U.S. House for the next two years. Republicans currently hold 220 seats and Democrats hold 212 seats, with three vacancies. In the U.S Senate, the Democratic caucus now has 51 members to the Republicans’ 49, but after retirements, Democrats face a tougher job keeping the majority. Read more here.

When REALTORS® vote, we play a crucial role in helping protect the interests of the real estate industry. By making sure you have a plan to vote for this year’s November 5 general election, you will help ensure the The Voice for Real Estate® is heard by legislators at the local, state, and national level. Find your polling place for early voting and day-of voting here.