"The lack of listings in the affordable price range are creating lopsided conditions in many areas where investors and repeat buyers with larger down payments are making up a bulk of the sales activity," said Lawrence Yun, the chief economist at the National Association of Realtors.
New York City Approves Rent Increases for Regulated Apartments (New York Times)
Many tenants in New York City’s roughly one million rent-regulated apartments will see their rents rise for the first time in three years after a city panel voted on Tuesday night to allow landlords to increase rents on one-year and two-year leases.