New Year… new lease.

It’s a perennial concern for renters in New York City, who occupy about two-thirds of the housing stock, according to the latest city data. And things have only gotten tougher as interest rates are keeping would-be-buyers in the rental market and people are willing to pay a premium to live alone.

Kenny Lee, an economist at StreetEasy, a Real Estate Search Engine that keeps close tabs on the rental and real estate markets, joins to break down if there might be any relief to high rents in the coming year.