Another major federal development affecting real estate professionals was the postponement of FinCEN’s Residential Real Estate Reporting Rule. Originally scheduled to take effect in 2025, the rule was delayed until March 1, 2026.
This incentive has long been a vital program support. By offsetting potential vacancy costs while applications are pending it makes landlords more willing to participate in CityFHEPS.
Just days after HGAR hosts its annual Legislative Breakfast on Oct. 6, voters, policymakers, and industry stakeholders will turn their attention to the NYC General Election Debate Series.
With the advent of artificial intelligence and the increased use of sophisticated algorithms in software and real estate platforms, the risks in violating antitrust law and engaging in anticompetitive behavior increase exponentially and must be carefully considered and assessed.
The Charter Review Commission is also recommending the creation of an independent Land Use Appeals Board. This board would offer an alternative avenue to challenge zoning and planning decisions, creating a formal process for appeals outside of the judicial system.
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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