A new law under consideration in one of the most expensive housing markets in the country aims to make rental housing less expensive. Lawmakers in New York state are expected to approve a package of rent reforms before existing regulations expire on Saturday. The bill would expand tenant protections in New York City, capping rent increases on regulated apartments and making it harder to evict tenants, among other changes. It would also allow other cities and towns in the state to enact their own regulations, something most states prohibit. With more than half of American renters spending more than 30% of their incomes on housing, rent control is no longer just a big city issue.
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