Nearly 700,000 rent-stabilized homes need a $4.65 billion bailout

Nearly 700,000 rent-stabilized homes need a $4.65 billion bailout

Send us Fan Mail [https://www.buzzsprout.com/2314245/fan_mail/new] With expenses far outpacing rents, urgent policy reforms are needed to avoid widespread default in distressed affordable housing. We examine new reports from NYHC [https://thenyhc.org/2025/11/26/nyhc-report-policy-reforms-required-to-avoid-defaults-in-distressed-affordable-housing/] and NYAA [https://housingny.substack.com/p/465-billion-rent-stabilized-building].  Kenny also has the latest on COPA and the Kingston rent control saga — and be sure to check out the brand-new edition of Housing New York Magazine [https://issuu.com/oceangold/docs/housing_new_york_magazine_--_q4_2025?fr=sZWM3OTg5ODcxMjE]. Plus, do you or someone you know qualify for a rent freeze [http://nyc.gov/site/rentfreeze]?  This is your New York Apartment Association weekly update with CEO Kenny Burgos. Follow @housingny on Instagram [https://www.instagram.com/housingny/] X [https://x.com/housingny] TikTok [https://www.tiktok.com/@housingny] YouTube [https://www.youtube.com/@HousingNY?app=desktop] & Substack [https://housingny.substack.com/]  Send us questions or comments at podcast@housingny.org [Podcast@housingny.org]  On The Agenda 1:09: NYHC report [https://thenyhc.org/2025/11/26/nyhc-report-policy-reforms-required-to-avoid-defaults-in-distressed-affordable-housing/] says policy reforms needed to avert affordable housing failure → Bloomberg: NYC’s Squeezed Landlords Need $1 Billion to Help Avoid Default [https://www.bloomberg.com/news/articles/2025-11-26/mamdani-urged-to-spend-1-billion-to-help-avoid-defaults-in-rent-freeze?srnd=undefined]        → NYAA: $4.65 Billion Rent-Stabilized Building Bailout Needed [https://housingny.substack.com/p/465-billion-rent-stabilized-building] 3:44: City Council rewrites [https://therealdeal.com/new-york/2025/12/03/city-council-amends-copa/] COPA [https://legistar.council.nyc.gov/LegislationDetail.aspx?ID=6695280&GUID=17713221-6B17-4AE9-9892-AF107A836713&utm_source=substack&utm_medium=email]  5:31: Kingston update [https://housingny.substack.com/p/section-8-delays-new-hpd-lead-paint?utm_source=post-email-title&publication_id=591631&post_id=180645470&utm_campaign=email-post-title&isFreemail=false&r=5py6sg&triedRedirect=true&utm_medium=email]  7:03: Do you qualify for a rent freeze? Spreading the word on SCRIE & DRIE → Check if you or someone you know qualifies at nyc.gov/rentfreeze [http://nyc.gov/site/rentfreeze]  8:40: Kenny’s holiday housing wishlist  9:05: Year-end compliance crunch checklist  Visit our website [https://housingny.org/] for more information. Follow Us: BlueSky [https://bsky.app/profile/housing.bsky.social] X [https://x.com/housingny] Instagram [https://www.instagram.com/housingny/] Tiktok [https://www.tiktok.com/@housingny]

The evidence for rent-stabilized housing distress is now overwhelming

Send us Fan Mail [https://www.buzzsprout.com/2314245/fan_mail/new] The latest NYU Furman Center report [https://furmancenter.org/nyc-rent-stab-2025] provides a data-rich picture of New York’s rent-stabilized housing woes. Plus, residential insurance costs are one of the biggest reasons affordable housing is in so much trouble. NYAA testifies before the state Senate. This is your New York Apartment Association weekly update with CEO Kenny Burgos. Check out the latest edition of Housing New York Magazine [https://housingny.substack.com/p/read-the-latest-edition-of-housing] Follow @housingny on Instagram [https://www.instagram.com/housingny/] X [https://x.com/housingny] TikTok [https://www.tiktok.com/@housingny] YouTube [https://www.youtube.com/@HousingNY?app=desktop] & Substack [https://housingny.substack.com/]  Send us questions or comments at podcast@housingny.org [Podcast@housingny.org]  On The Agenda 1:11: NYU Furman Center brings the data [https://furmancenter.org/nyc-rent-stab-2025] on NYC’s rent-stabilized housing stock 4:07: NYAA testifies: untenable insurance premiums & the high cost of fraud    → Watch NYAA Policy Director Kathleen Irwin’s full testimony [https://youtu.be/6RY44PFUpEo?si=H1lH6TkxWRZFYIdx&t=19702] before the NY State Senate  6:26: COPA [https://therealdeal.com/new-york/2025/11/24/nyc-multifamily-owners-brokers-fear-copa/] and the City Council 8:09: The who's who of Mayor-elect Mamdani’s housing-focused transition team [https://therealdeal.com/new-york/2025/11/25/zohran-mamdani-names-housing-transition-team/]    → Mamdani selects several corporate executives [https://www.bloomberg.com/news/articles/2025-11-24/mamdani-taps-nyc-business-advocate-wylde-for-transition-team?utm_source=substack&utm_medium=email] to mollify city’s business community 10:02: Julie Menin declares victory in City Council speaker race Visit our website [https://housingny.org/] for more information. Follow Us: BlueSky [https://bsky.app/profile/housing.bsky.social] X [https://x.com/housingny] Instagram [https://www.instagram.com/housingny/] Tiktok [https://www.tiktok.com/@housingny]

We have a new mayor… Now what?

Send us Fan Mail [https://www.buzzsprout.com/2314245/fan_mail/new] Plus, we explain how rent controls lead to market paralysis and a tale of two cities. And we have an exciting new partnership to tell you about.  This is your New York Apartment Association weekly update with CEO Kenny Burgos. Check out the latest edition of Housing New York Magazine [https://housingny.substack.com/p/read-the-latest-edition-of-housing] Follow @housingny on Instagram [https://www.instagram.com/housingny/] X [https://x.com/housingny] TikTok [https://www.tiktok.com/@housingny] YouTube [https://www.youtube.com/@HousingNY?app=desktop] & Substack [https://housingny.substack.com/]  Send us questions or comments at podcast@housingny.org [Podcast@housingny.org]  On The Agenda 1:14: Mamdani won. Now what? 3:13: Recap: Somos 2025 4:27: Rent freezes have consequences the world over 6:03: NYAA joins the National Apartment Association [https://naahq.org/news/new-york-apartment-association-joins-naa-federation]  7:00: Uptown turkey giveaway 🦃 Visit our website [https://housingny.org/] for more information. Follow Us: BlueSky [https://bsky.app/profile/housing.bsky.social] X [https://x.com/housingny] Instagram [https://www.instagram.com/housingny/] Tiktok [https://www.tiktok.com/@housingny]

Nonprofit affordable housing providers are sounding the alarm.

Send us Fan Mail [https://www.buzzsprout.com/2314245/fan_mail/new] Two new reports show rents aren’t covering operating costs in stabilized buildings and project it will cost billions to save them. Plus, the insurance-cost crisis has finally captured the attention of state lawmakers.  And we took a trip to Vienna, Austria. What we learned may surprise you.  This is your New York Apartment Association weekly update with CEO Kenny Burgos. Check out the latest edition of Housing New York Magazine [https://housingny.substack.com/p/read-the-latest-edition-of-housing] Follow @housingny on Instagram [https://www.instagram.com/housingny/] X [https://x.com/housingny] TikTok [https://www.tiktok.com/@housingny] YouTube [https://www.youtube.com/@HousingNY?app=desktop] & Substack [https://housingny.substack.com/]  Send us questions or comments at podcast@housingny.org [Podcast@housingny.org]  On The Agenda 1:11: ANHD [https://anhd.org/wp-content/uploads/2025/10/ANHD-Preserving-the-Foundation-report.pdf] and Enterprise [https://www.enterprisecommunity.org/learning-center/resources/distress-new-yorks-affordable-housing-stock] sound the alarm 3:35: Should Mayor Adams stack the RGB on his way out [https://www.nydailynews.com/2025/10/27/mamdani-confident-adams-political-maneuvers-wont-stop-his-rent-freeze/]? 5:14: The Legislature: Insurance crisis hearing scheduled for Tuesday, Nov. 18 6:09: Is NYC Cooked? [https://www.economist.com/briefing/2025/10/30/as-new-jobs-in-finance-dry-up-new-york-citys-fiscal-model-is-wilting]  9:00: Preview: Housing lessons from Vienna  Visit our website [https://housingny.org/] for more information. Follow Us: BlueSky [https://bsky.app/profile/housing.bsky.social] X [https://x.com/housingny] Instagram [https://www.instagram.com/housingny/] Tiktok [https://www.tiktok.com/@housingny]

Election preview: housing on the ballot & Mamdani’s “Plan B”

Send us Fan Mail [https://www.buzzsprout.com/2314245/fan_mail/new] Leading mayoral candidate Zohran Mamdani has yet to take a stand on ballot questions 2, 3, and 4 — and he’s hinted that his $10 billion campaign platform might require a new funding mechanism.  Plus, we break down the numbers behind last year’s 250,000 heating complaints. This is your New York Apartment Association weekly update with CEO Kenny Burgos. Follow NYAA on BlueSky: @housing.bsky.social [https://bsky.app/profile/housing.bsky.social] Follow @housingny on Instagram [https://www.instagram.com/housingny/] X [https://x.com/housingny] TikTok [https://www.tiktok.com/@housingny] YouTube [https://www.youtube.com/@HousingNY?app=desktop] & Substack [https://housingny.substack.com/]  Send us questions or comments at podcast@housingny.org [Podcast@housingny.org]  On The Agenda 1:12: Housing on the ballot → Learn more about each ballot proposal here [https://www.cityandstateny.com/policy/2025/10/whats-deal-2025-nyc-ballot-proposals/408750/] 3:35: Heat complaints in context  5:14: Why we oppose [https://www.crainsnewyork.com/op-ed/op-ed-why-mamdanis-rent-freeze-proposal-should-worry-new-yorkers] a rent freeze 6:09: Mamadani’s “Plan B” Visit our website [https://housingny.org/] for more information. Follow Us: BlueSky [https://bsky.app/profile/housing.bsky.social] X [https://x.com/housingny] Instagram [https://www.instagram.com/housingny/] Tiktok [https://www.tiktok.com/@housingny]