Supreme Court May Hear Owner's Challenge to Rent Control Laws

Recently, the Supreme Court asked New York City and State to file answers to an owner's petition to be heard. The owner contends that New York City's rent laws constitute a “taking” of his property without just compensation, a violation of his constitutional rights. If the owner has his way, the nation's highest court may soon be examining New York City's rent stabilization laws for the first time since the 1920s.