Housing

The New York City Council voted to shift the responsibility of paying hefty broker fees from tenants to whomever hires the broker. Supporters have said the move would save renters thousands of dollars up front, but critics maintain it will only end up pushing rents up even higher. NBC New York’s Rana Novini reports.

The New York City Council passed, in a 42-8 vote, a bill that will put an end to forcing tenant-paid brokers fees, as the city looks for strategies to tackle the housing affordability crisis. Now, whoever hires the broker will have to pay their fees. The Fairness in Apartment Rental Expenses, or FARE, Act will “prohibit brokers from passing their…

Donald Trump wants to address the housing shortage in the U.S. But some of his promises might be hurdles in the way.

With a Republican sweep of the presidency and Congress, mortgage rates could stay well above 6% for the rest of 2024.

More and more homeowners are skimping on insurance, despite the financial risks.

One in four middle-income new homeowners — twice as many as a decade before — are buying into cost-burdened situations, according to NBC News.

You aren’t wasting money by renting, says self-made millionaire. In fact, it can be a smarter financial move than buying.

Homes are getting less affordable for buyers all over the country — including in places where the 2024 presidential race could be decided.

ApartmentAdvisor analyzed 98 major cities across the U.S. to rank the most renter-friendly.

High rents are not a new phenomenon in New York City, but paired with steep upfront costs, many are finding it tough to secure their next home. A new StreetEasy market report for the month of June shows that renters across the city are sticking put and staying in their current homes for longer thanks to those two factors. The…

The vacant, former headquarters of Pfizer on 42nd Street will be converted into apartments, according to Manhattan Borough President Mark Levine. Levine said the conversion from office space into 1,500 apartments will be the largest conversion in New York City history. “We need many, many more of these. (And have to make sure they include affordable units.),” Levine said in…

News 4’s Ida Siegal reports from the Upper East Side.

New Yorkers who live in rent-stabilized apartments find out if their rent is going up again. News 4’s Ida Siegal reports. 

The NYC Rent Guidelines Board voted Monday night in favor of a series of potential rent increases for New Yorkers living in the city’s one million rent-stabilized apartments. The board voted to increase rents by 2.75% on one-year leases and 5.25% on two-year leases. The board had been deciding the rates on two proposed hikes: a 2-4.5% increase on one-year…

The New York City Council is considering a bill that could make it less expensive when it comes time to get a new apartment in the five boroughs. It has to do with broker fees and who would be responsible for paying them. So how would it all work? NBC New York’s Melissa Russo reports.

While one expert points to signs of improvement in the housing market, others say more listings and lower interest rates won’t counteract higher home prices.

The waitlist will be open for applications until Sunday. News 4’s Andrew Siff reports. 

Starting Monday, the city is opening the waitlist for NYCHA’s Section 8 Voucher Lottery for the first time in 15 years — allowing for more people to take a chance at the city’s rent subsidy lottery, according to city officials. The waitlist will be open for applications until Sunday, the city said. Mayor Eric Adams said that last time NYCHA…

The average annual wage in New York City is no longer keeping up with the rising costs of living and monthly rent, which is squeezing out workers even in typically more lucrative careers like technology, according to a new report. Residents are constrained when searching for the limited number of rentals on the market, and soaring prices just add salt…

New York is eyeing a parcel of unused land off a Long Island airport as part of its first state-owned housing development. Gov. Kathy Hochul announced Friday that a 13-acre site at Republic Airport in East Farmingdale has been earmarked for a major redevelopment that will include affordable housing, open space and “other community amenities.” The exact number of housing…