“At this critical stage of the housing market, it is all about mortgage rates,” said NAR Chief Economist Lawrence Yun.
The report warns that if Westchester fails to address its growing housing shortfall, the county could lose between 8,400 to 12,000 jobs annually and $533 million to $742 million in annual earnings.
The move effectively keeps congestion pricing tolls in effect through at least June 9.
Currently, localities must conduct a survey of rental housing they propose to regulate and demonstrate that the vacancy rate is below 5%. This bill leaves that option in place, but creates an alternative method.
Legislation S.8203/A.8427-A extends temporary permits to more New York City businesses. Legislation S.9685/A.7116 doubles the duration of temporary permits at the same cost.
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