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NYC Freezes Rents for 1M Apartments
Rent in New York City just got a major freeze: the Rent Guidelines Board voted 7-1 to halt rent increases for one million rent-stabilized apartments, a rare move that Mayor Zohran Mamdani hailed as a historic tenant win. But the decision sparked controversy — board member Christina Smyth resigned, calling it political theater and accusing the board of ignoring data. Landlords are furious, arguing the freeze ignores rising costs for upkeep and could worsen the housing crisis. Meanwhile, the mayor’s proposed insurance program to ease building costs won’t launch until 2027 — and its details…
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