Governor Hochul Proposes Ambitious Housing Agenda; Calls for $5B in Taxpayer Rebates, Credits to Foster Affordability
Gov. Hochul said the current limit of $10,000 on state and local taxes in New York State costs New Yorkers up to $12 billion a year.
Gov. Hochul’s State of the State Address Focuses on Housing, Climate Change, Rail Improvement Funding
“The top driver of our affordability crisis is the rising cost of rent and mortgages, and New Yorkers need our help.”
PULSE OF THE MARKET: Inventory and Rates Will Drive New York Area Market in 2025
Rates at 6% are the new normal, and from a historical perspective they’re completely fine, especially given the strength of the economy and inflation adjusted wage gains over the past few years.
Governor Proposes $100 Million to Spur Starter Home Construction; Provide First-Time Homebuyer Down Payment Assistance
“The cost of living is just too damn high — especially when it comes to the sky-high rents and mortgages New Yorkers pay every month,” Gov. Hochul said.
New York City Selects Team for Long-Awaited Redevelopment of Storied Kingsbridge Armory
Phase Two is to include 450 units of permanently affordable rental housing adjacent to the armory
Controversial NYC Congestion Pricing Program Now in Effect After Surviving 11th Hour Court Challenges
A federal judge on Jan. 3 denied New Jersey’s attempt to stop or stall the launch of the congestion tolling plan two days later.
2024 Year in Review: An Industry Coping with Dramatic Changes
On the state and local levels, the real estate industry coped with high demand, low inventory and volatile interest rates as the Federal Reserve tried to battle inflation.
HGAR Issues ‘Call to Action’ in Opposition Of ‘Good Cause Eviction’ Proposal in Croton
While the goal of protecting tenants is important, the reality is that this law could have far-reaching consequences that hurt housing affordability and discourage real estate investment.
PrimeSource Building Products Signs 312,267-SF Lease at Maybrook Logistics Center
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
NAR, Realtor.com. Builders, Mortgage Bankers Economists Expect Home Sales, Rates Will Improve in 2025
Yun noted that a key trend going forward is that for-sale inventory has been increasing of late and is expected to continue next year.
Orange County Partnership Hands Out Awards and Touts New Marketing Focus in 2025
The Orange County Partnership, founded in 1986, has assisted in a total of 873 attractions and expansion projects in 38 years.
HGAR CEO Lynda Fernandez Receives ‘Hispanic Advocacy Award’ From The New York City Hispanic Chamber of Commerce
Fernandez, who has served as HGAR’s CEO since September 2023, was among three award winners. She joined HGAR after having served as CEO of the Greater Louisville Association of Realtors.