The Daily Dirt: Gloomy forecast for real estate reform

It would be an understatement to say there’s little optimism that Albany lawmakers will do something good for real estate this session. Killing the 485x wage rules would create thousands more apartments, but it’s hard to imagine Gov. Kathy Hochul and others defying construction unions — who basically wrote the rules — in an election year. With the governor and everyone else focused on affordability, I would also be shocked if lawmakers allow higher rent increases to renovate rent-stabilized apartments, even as tens of thousands sit vacant. What about a new tax break or direct funding for apartment improvements? Don’t […] This article originally appeared on The Real Deal. Click here to read the full story.