Real estate industry trade associations file amicus curiae briefs challenging New York rent control law
Client(s) National Apartment Association, National Association of Home Builders, National Association of Realtors, and Mortgage Bankers Association
Jones Day filed amicus curiae briefs in the U.S. Supreme Court on behalf of a coalition of real estate industry trade associations urging the Court to hear two cases challenging the constitutionality of New York’s Rent Stabilization Law (“RSL”). The coalition supports petitioners’ claims that the RSL effects an unconstitutional taking of private property without just compensation in violation of the Fifth Amendment. Jones Day’s brief contextualizes the RSL against the backdrop of other emerging threats to property rights, including eviction moratoria and burgeoning rent-control laws in other jurisdictions. The brief also explains how rent-control laws are bad public policy because they undermine the very housing supply and affordability problems they were intended to solve. Finally, the brief describes how New York’s RSL has had devastating effects on individual property owners, who are forced to bear a disproportionate share of the burdens of New York’s housing policies.
Community Housing Improvement Program v. City of New York, No. 22-1095 (U.S.); 74 Pinehurst LLC v. New York, No. 22-1130 (U.S.)