New York State Capitol in Albany/ Photo credit: Matt H. Wade via Wikipedia
NEW YORK CITY—On June 15, New York rent regulations expire. Legislators have introduced nine proposals to the assembly and senate to address what they say have been loopholes causing a precipitous drop in rent-stabilized apartments across the state.
In New York City, 5.5 million people, 66% of households, are renters. One-third of renters are severely rent burdened paying 50% or more their household income towards gross rent, says New York State Assembly Speaker Carl E. Heastie.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
