Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy.
This month, the Bronx Times published a powerful feature titled “From Renters to Owners: Bronx First-Time Buyers Navigate a Tough Market,” that highlighted the challenges and opportunities facing prospective homeowners in the Bronx. HGAR was proud to help facilitate this story by connecting the journalist with local Realtor expertise and sharing timely market data from the National Association of Realtors.
I had the opportunity to coordinate the interview with HGAR member Gregory Tsougranis, a dedicated real estate professional who works closely with buyers and sellers across the Bronx and New York City. His insight provided a crucial perspective on what first-time buyers are facing and how Realtors can guide them through it.
The Bronx: NYC’s Toughest Path to Ownership
The Bronx continues to have the lowest homeownership rate in New York City, at just 20%. Buyers, especially first-timers, must navigate a market defined by limited housing inventory, rising prices and high interest rates. This combination makes it difficult for long-term renters to transition into ownership, even when they’re financially prepared and motivated to do so.
Despite these hurdles, the Bronx Times article highlights the success stories of Bronx residents who’ve managed to achieve homeownership with the right support. Gregory Tsougranis explained how experienced Realtors can play a critical role in helping buyers make smart, confident decisions in a highly competitive market.
“The average buyer has been on Zillow for months. What they need now is a professional who understands the Bronx market and can guide them,” he told the Bronx Times.
Realtor Advocacy and the Policy Connection
These challenges in the marketplace are exactly why HGAR continues to advocate for common-sense housing policy at all levels of government. Whether through first-time homebuyer assistance programs, efforts to expand housing supply or proposals to reduce regulatory burdens, our legislative priorities are grounded in what our members and their clients experience on the ground every day.
The Bronx Times article also underscores the importance of Realtor voices in local media. It’s one thing to talk policy in Albany or City Hall, but it’s another to make the case through real stories of families trying to buy their first home. That’s where our advocacy becomes real and tangible.
Strengthening Our Voice
We’ll continue to use NAR housing data, member expertise, and direct engagement with elected officials to advance policies that support homeownership and strengthen communities. This Bronx Times feature is a great example of how HGAR is shaping the public narrative and bringing Realtor voices to the forefront of the housing conversation.
Another important provision in the OBBBA raises the SALT deduction cap from $10,000 to $40,000 for taxpayers earning less than $500,000, effective from 2025 to 2029, before reverting to $10,000 thereafter.
The One Big Beautiful Bill Act includes multiple NAR-championed provisions designed to support homeownership, drive investment in housing supply, and strengthen the real estate economy.
Legislative decisions at every level of government impact how we do business, safeguard private property rights, and help our clients achieve the dream of homeownership.
With the full legislature and governor facing re-election in 2026, HGAR and NYSAR are already preparing for what could be a watershed year for housing policy.
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