In a case that promises to utterly upend New York politics — and boost the city’s housing market — the Supreme Court may soon strike down the essence of the rent control laws.
Local politicians love nothing more than to gesture on behalf of cheaper housing, as with the City Council bill aiming to force landlords to pay broker fees on rental units, or the drive for a state law that would (in the name of limiting evictions) make rent control statewide.
This case could end the never-ending game, by gutting the core rent law.
In the process, it would end New York’s eternal housing “crisis” practically overnight — benefiting both tenants and landlords.
In May, New York landlord groups asked the court to hear their challenge to the state Rent Stabilization Law, which lets the city cap rent hikes and gives tenants a virtually ironclad right to renew their leases.