The article analyzes the potential effects of a proposed four-year rent freeze on NYC’s 1 million rent stabilized apartments, already weakened by the 2019 Housing Stability and Tenant Protection Act, which cut property values by up to 60% and discouraged investment. Using a building that is outside of Manhattan as an example, it shows how rising costs and debt could push landlords into losses, leading to neglected maintenance, more vacancies.

While tenants could save about $3,085 over four years, examples from Berlin and San Francisco suggest freezes can reduce supply and worsen long-term affordability.

Building Departments struggle to meet the cyclical demands of construction with trained staff. This results in delays that can sink profits. Until we have an AI breakthrough, legislators in eight states have given developers the right to hire a “Private Provider” when government cannot meet the demand. A practice enacted in 2002 is gaining momentum across the US.

California Wildfires; Building Back Better with new property technology The LA fires have devastated entire communities. Families have lost loved ones, and many are fortunate to have survived. Over 15,000 buildings have been destroyed, and the fire season is not over.

The present time marks a significant alignment of funding, need, and capabilities. Over the past twenty years, building departments across the United States have consistently evolved, with many transitioning online during the pandemic through business processes and software solutions. Currently, innovative ideas and capital aims to leverage this momentum for substantial progress.

We have seen building departments across the U.S. consistently evolve over the last twenty years and most moved online during the pandemic.  Currently, an infusion of ideas and capital hope to harness the momentum and go big.  If there were ever a moment where funding, need and capabilities have aligned, it’s now. 

Plan review and inspection demand continues to slow down development due to lack of resources. Read of the eight states that have taken a bold step to meet demand and shorten the time for developers.