Supreme Court Upholds New York's Rent Control System
The Supreme Court has declined to hear a challenge to New York's rent-stabilization regulations, which allow the government to set maximum rent increases and allow tenants to renew their leases indefinitely. Landlords argued that the regulations amounted to an unconstitutional government taking of private property. However, a three-judge panel of the U.S. Court of Appeals for the Second Circuit rejected this argument, stating that rent control laws strike an appropriate balance and are not a complete government takeover of property.