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New York halts rent increases on million units
The New York City Housing Committee voted to freeze rents on nearly one million regulated apartments for up to two years, a move seen as a political victory for Mayor Zoran Mamedani, who confirmed that this decision represents a historic triumph for city tenants. The freeze aims to maintain price stability and prevent increases amid factors such as wage inflation and maintenance costs, covering lease agreements starting from October. This decision follows debates about the members' affiliations and the influence some may have had on the outcome, and is part of Mamedani's efforts to strengthen tenants' rights and reduce housing costs in the city.
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