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New York Post
2 days ago
- Business
- New York Post
Rents jump shocking 15% after NYC ditches broker fees
The city ditched broker fees last week in a supposed win for tenants, but landlords had the last laugh — wasting little time sending rents skyrocketing in an effort to recoup their anticipated losses. Rents shot up a shocking 15% in the week since the controversial FARE Act took effect, with the average rental in the Big Apple jumping from $4,750 to $5,500, according to an analysis by real estate analytics firm UrbanDigs. 6 New Yorkers have been sharing conversations with brokers like this one since the FARE Act was enacted on June 11. Reddit Advertisement 'The Manhattan rental market has seen a sharp reaction,' said John Walkup, UrbanDigs' co-founder. The FARE Act, which prohibits agents representing property owners from charging renters a 'broker fee,' also requires that all fees a tenant owes be included in rental agreements and real estate listings. But the rising rents 'suggests that landlords may be attempting to incorporate broker fees into the rent, which would transfer the cost to renters in a less direct, but very real way,' added Walkup. Advertisement 6 Walkup said the market reacted 'sharply' to the FARE Act. UrbanDigs The law change has created what insiders tell The Post is a 'shadow market' — apartments that aren't listed so landlords can still get tenants to cover the fee. 'We're going to be looking for apartments again like it's 1999 … where you have to know who to call and when to call,' said Jason Haber, co-founder of the American Real Estate Association and a broker at Compass. 'It's going to be an odyssey.' Advertisement 6 Ricciotti said tenants have been asking if they can just pay the broker fee instead of the higher rent, which works out to more money over the long-term. BOND New York Real Estate And listings dried up overnight with an estimated 2,000 vanishing from website StreetEasy on June 11 — the day the FARE Act took effect — while UrbanDigs found available apartments dropped by an eye popping 30%. 6 A renter posted this screenshot of the two different asking prices. Reddit Renters meanwhile have been sharing horror stories online, with receipts — like screenshots of conversations with brokers flat out telling them they get one price if they pay the broker fee and another, much higher rate, if they don't. Advertisement One New Yorker, for instance, was told by an agent the rent was going up $700. 6 Kebenae Tadesse said agents have still been trying to get tenants to pay the fee. Helayne Seidman Another said a landlord was asking $6,800 for a 3-bedroom with a broker fee — or $8,000 with no fee, which is illegal to advertise under the new law. 'We've been inundated with prospective tenants who have asked our agents for the option to pay our brokerage commission, directly and maintain the benefit of the lower pre-Fare Act rental terms, which unfortunately, we have to tell them is now illegal,' said Bruno Ricciotti, principal at Bond New York. 'It's so frustrating,' said Kebenae Tadesse, who had been trying to find a Brooklyn studio. 'Brokers have repeatedly said, 'Well, if I don't charge you this fee, the landlord is just going to put it into your rent,' she told The Post. 'It's discouraging.' 6 Rents went up by 15% on average since the FARE act went into effect. goodmanphoto – Advertisement When Tadesse called out a broker for trying to pass on the fee to her, the agent took down the listing, marking it as 'temporarily off market' on StreetEasy since June 11.
Yahoo
17-04-2025
- Health
- Yahoo
Autism rates climb to 1 in 31 in kids; Experts debate causes and solutions
At a press conference on Wednesday, Robert F. Kennedy Jr. cited research he says documents up to a 400% increase in autism cases over the last several decades. As more children and families are impacted and the cost of care is rising, he wants more resources devoted to autism studies. While those who care for children on the autism spectrum welcome the additional focus, they want to make sure the lens is pointed in the right direction. More Coverage: WGN's Medical Watch Kennedy says the autism spectrum disorder (ASD) prevalence rate in eight-year-olds is now 1 in 31. The threat is even greater in boys. 'Overall, autism is increasing at an alarming rate,' Kennedy said. 'The risk for boys of getting an autism diagnosis in this country is now one in 20.' There is more awareness about autism and diagnosis criteria has changed, but according to Kennedy, better recognition does not account for rising rates. 'It was not expected that autism prevalence would increase. Other childhood disabilities and neurologic disorders do not increase or change over time,' Walter Zahorodny, clinical psychologist and autism researcher, said. Kennedy ordered more research but locally, Dr. John Walkup, the head of the Department of Psychiatry and Behavioral Health at Ann & Robert H. Lurie Children's Hospital, says based on years of research, the autism picture is more complicated. 'There's been a lot of study looking at this, and there are a lot of autism experts who have maybe opinions that disagree with the secretary,' Dr. Walkup said. 'It's not a simple genetic problem, but I think it's hard for people who are in the business to kind of say that genetics doesn't play a role.' Whatever the root cause, as an expert who cares for children on the spectrum, Dr. Walkup believes the diagnosis is critical to get those in need early interventions that can make a difference in their lives. 'The other aspect is the availability of services. There are more now than ever before, but we are still nowhere near having a system that's in place that actually can provide services for these kids,' Dr. Walkup said. Having autism in the spotlight may help. Secretary Kennedy wants autism studied under the Administration for a Healthy America's new chronic disease division. Are the cases due to toxins, rising maternal and paternal age? He hopes to have results on more definitive autism causes by September. Experts we spoke with say that may be optimistic. Sign up for our Medical Watch newsletter. This daily update includes important information from WGN's Dina Bair and the Med Watch team, including, the latest updates from health organizations, in-depth reporting on advancements in medical technology and treatments, as well as personal features related to people in the medical field. Sign up here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
