National

Multifamily real estate is under strain as price declines accelerate and rent growth fails to pick up—even during peak leasing season.

NYC’s Rent Guidelines Board voted 5–4 to raise rents for about 1M rent-stabilized apartments—3% for one-year leases and 4.5% for two-year leases starting October 1.

Senate Republicans approved a substitute version of H.R. 1 by a 51-50 vote, with Vice President J.D. Vance casting the tie-breaker.

With gateway markets cooling off, institutional capital is shifting to the Midwest, where fundamentals remain strong and pricing remains in check.

The private equity giant is doubling down on distressed commercial debt as regional banks look to unload legacy loans.

A staggering 22.6M renters are now cost-burdened (spending over 30% of income on housing), with 12.1M severely burdened (spending more than 50%).