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New York lawmakers stun the real estate industry with rent control redux

New York State Senate and Assembly leaders have passed expansive changes to rent control laws that stunned the real estate industry. The state’s governor, Andrew Cuomo, has pledged to sign the bill before the existing, more moderate law expires on Saturday. Legislators won’t have to worry about wrangling over tenant protections every few years, like the old law. The bill makes these changes permanent.
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