newyork
New York City's Rent Guidelines Board (RGB) voted to cut rents at rent-stabilized apartments yet again, although you might not know that from the press coverage. Earlier this week, the RGB—a city regulator responsible for setting maximum legal rent increases on the city's roughly one million rent-stabilized units—voted to allow rent increases of 2.75 percent for one-year leases and 5.25 percent for two-year leases. Nominally, that is a rent increase. When compared against the year's 3.3 percent inflation, as measured by the Consumer Price Index (CPI), that's a real decrease in rents. According...
Reason
After years of public engagement, foot dragging from federal officials, and multiple obstructionist lawsuits, New York's congestion pricing plan was ready to roll. Come the end of the month, sensors and cameras were ready and waiting to charge most drivers $15 tolls for entering Midtown Manhattan and below, with the money earmarked for New York's transit system. Today, Gov. Kathy Hochul killed the plan. Passed by the New York Legislature in 2019, congestion pricing was "enacted in a pre-pandemic period when workers were in the office five days a week, crime was at record lows, and tourism was ...
Reason
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