Author: Rent Magazine Contributor

In a swift and unexpected turn, New York City’s rental market has undergone significant disruption following the enactment of the Fairness in Apartment Rental Expenses (FARE) Act on June 11, 2025. The new law, which bans landlord-side brokers from charging tenants up-front commissions, was intended to alleviate one of the city’s steepest moving costs. Instead, it has triggered a sharp increase in monthly rents and a notable drop in publicly listed apartments. Within just a week of the law taking effect, average Manhattan rents surged by approximately 15 percent, jumping from around $4,750 to $5,500. The spike comes as landlords…

Saturday, June 21, 2025, marked the Summer Solstice, an annual astronomical milestone that signifies the longest day of the year in the Northern Hemisphere. Occurring at precisely 10:42 p.m. EDT on June 20 (02:42 UTC on June 21), the solstice was officially recorded on June 21 across U.S. time zones. This celestial moment, caused by the Earth’s axial tilt being most inclined toward the Sun, marks the beginning of summer and the year’s maximum daylight hours. From ancient sun rituals to modern eco-conscious celebrations, the solstice continues to be a powerful symbol of light, renewal, and connection with nature. Across…

National Association of REALTORS® Chief Economist Lawrence Yun has expressed optimism about a housing market rebound in 2025, pointing to modest price growth and a projected increase in home sales. Speaking at a REALTORS® forum in Washington, D.C. earlier this month, Yun outlined a scenario in which lower mortgage rates and job growth converge to fuel renewed momentum in both the existing-home and new-home markets. Yun’s revised forecast, released on June 20, projects a 6% increase in existing-home sales and a 10% rise in new-home sales compared to 2024. The outlook is based on the assumption that mortgage rates will…

CBRE’s U.S. Real Estate Market Outlook 2025, released on June 20, outlines a cautiously optimistic trajectory for the commercial real estate sector. Despite persistent challenges—chief among them high interest rates and tight credit conditions—the report projects a moderate recovery across all major property types: office, retail, industrial, and multifamily. This rebound is expected to be underpinned by resilient consumer spending, steady economic growth, and increasing investor interest in select asset classes. The report notes that the 10-year U.S. Treasury yield remains elevated, hovering above 4%, which continues to influence borrowing costs and suppress investment activity. However, CBRE expects U.S. gross…

In a major milestone for urban redevelopment, New York City marked the full leasing of 25 Water Street’s 1,300 new apartments on June 20, 2025. The building, once a mid-century office tower in the Financial District, has been completely transformed into a state-of-the-art residential complex, symbolizing the nation’s largest office-to-residential conversion to date. The project, branded as SoMA (South Manhattan), underscores a broader shift in how cities are reimagining unused commercial real estate to meet growing housing needs. Originally constructed in 1969, the former office building once housed major tenants including JPMorgan Chase and the New York Daily News. Following…

In a positive sign for the U.S. housing market, mortgage rates held steady in mid-June 2025, offering a moment of stability for prospective homebuyers and renters navigating a turbulent real estate landscape. According to the latest data from Freddie Mac, the average 30-year fixed mortgage rate stood at approximately 6.82% as of June 20, slightly down from recent highs earlier in the year. This stabilization, after weeks of moderate declines, has eased some financial pressure on would-be homeowners and sparked cautious optimism among market analysts. The pause in rate movement is particularly significant in the context of a housing market…

On June 19, 2025, the Los Angeles Dodgers publicly confirmed they had denied access to federal immigration agents at Dodger Stadium, marking a dramatic moment in the ongoing debate over immigration enforcement in California. The incident occurred during a home game against the San Diego Padres and came amid heightened protests and legal disputes over federal control of immigration operations in the state. According to team officials, individuals identifying themselves as immigration agents attempted to enter the stadium’s parking lot prior to the game. The Dodgers said they were initially told the agents were from U.S. Immigration and Customs Enforcement…

The U.S. housing market is undergoing a notable transformation, with data from mid-June 2025 indicating a significant shift in power from sellers to buyers. Nationwide residential inventory has surged past one million active listings—levels not seen since the pre-pandemic winter of 2019. This sudden expansion in supply is reshaping market dynamics, extending listing times, and prompting widespread price cuts. According to housing analysts and national brokerage data, the average time a home stayed on the market in May increased to 38 days, up from just 27 days a year earlier. This prolonged timeline is contributing to pressure on sellers, who…

Despite ongoing macroeconomic pressures, including elevated interest rates and global market uncertainty, multifamily properties have emerged as the leading force in U.S. commercial real estate in 2025. According to CBRE’s latest market outlook released on June 19, 2025, investor interest in multifamily assets remains strong, supported by robust rental demand and an improving trend in rent growth. The report paints a cautiously optimistic picture of the commercial property landscape. While office space vacancies remain historically high, they appear to have reached a plateau, sparking interest in adaptive reuse strategies—particularly in major cities where urban density and housing demand create favorable…

With mortgage rates hovering around the mid-6% range, U.S. homebuilders are leaning heavily on buyer incentives to maintain momentum in the housing market. As real estate activity picks up pace in key regions, industry experts say that 2025 is shaping up to be a pivotal year for both builders and buyers—particularly in traditionally hot markets. According to recent reports from MarketWatch and the National Association of Realtors (NAR), builders are increasingly offering financial incentives to attract hesitant homebuyers. These include covering closing costs, offering mortgage-rate buydowns, and even providing home upgrades at no additional charge. The strategy reflects efforts to…