realestate

New York Democrats Consider Targeting Real Estate Industry Over Trump Ties

New York's Progressives See Opportunity to Repeat 2018 Upset with Trump's Reelection Looming

E
ight years ago, Donald Trump's election sparked a wave of progressive activism in New York, leading to control of the state Senate and significant rent reforms. History may repeat itself as the City Council prepares to vote on a bill aimed at saving tenants thousands of dollars on broker fees when leasing apartments. The FARE Act, expected to pass next week, would set rules for how rental brokers are paid, with tenants paying commissions upfront rather than at lease-signing.

    Council member Sandy Nurse hailed the bill as a powerful example of progressive action, saying it addresses real economic struggles faced by everyday people. "While moderate and right-wing politicians play their game of divide and distract, this bill does the real work," she said. The measure's passage would be seen as a response to Trump's re-election victory.

    In New York City, Trump lost to Vice President Kamala Harris by 37 percentage points, but gained ground in certain communities. Democrats saw their edge slip slightly in other races, but maintained majorities in the state legislature. The party's shift to the left has sparked debate within the Democratic Party, with some arguing that it alienates moderate voters.

    The DSA criticized Democrats for supporting "war criminals and billionaires" and accused them of objecting to Israel's actions in Gaza. In response to Trump's re-election, the group vowed to organize together in solidarity and not give an inch. Meanwhile, Rep. Ritchie Torres warned against "pandering" to the far left, saying it could lead to a Republican mayor.

    The City Council is also expected to vote on other bills with significant real estate implications, including one that would freeze rents if Assembly member Zohran Mamdani becomes mayor. Landlord groups have expressed concerns about these measures, arguing they will hurt small landlords and result in no net benefit for tenants. The FARE Act's passage could be seen as a test of the Democratic Party's willingness to push progressive policies despite potential backlash from moderates.

New York Democrats consider targeting real estate industry over Trump ties.