REFinBlog

Editor: David Reiss
Cornell Law School

June 16, 2026

AI and Legal Education

By David Reiss

Eflon CC BY 2.0

I was interviewed in the Forum (Cornell Law School’s Alumni Magazine) about AI and Legal Education. It reads, in part:

When she first began her legal studies at Cornell, [Jessica Rosberger ’26] says many students didn’t want to disclose they were using AI (“it felt like academic dishonesty”) but now it is “explicitly discussed” and used as a tool in studies and research. “I feel confident now going into practice to understand how the technology is evolving. I don’t know where it’s going, but I want to keep up with it,” says Rosberger, who joins the Manhattan District Attorney’s office after graduation. “In my view, Cornell is maintaining its integrity as a top law school by integrating AI into coursework and clinics. We have a professional responsibility to keep up with the technology and the platforms available to us.”

This sense of responsibility is especially evident at Cornell Tech, which offers courses and programs—including a Master of Laws (LL.M.) in Law, Technology, and Entrepreneurship degree—bringing together experts in engineering, computer science, design, business, and law “to build the foundations for new digital technologies—especially AI.”

“Our faculty are thought leaders in artificial intelligence and machine learning,” says David Reiss, clinical professor of law and research director of the Blassberg-Rice Center for Entrepreneurship Law. “The Law School has always been committed to ensuring that our graduates are practice ready. The integration of AI into the curriculum provides them with better tools. It will make them better lawyers and give them a leg up in practice.”

Reiss co-authored an article in Bloomberg Law explaining why law schools should teach how to integrate AI into practice. “Different AI products lead to wildly different results. Just demonstrating this to law students is very valuable, as it dispels the notion that AI responses can replace their independent judgment,” writes Reiss. Simulations were designed in which students were asked to complete the same transactional tasks, like drafting a contract or creating a client email, using different AI tools. The results were different because each platform drew from different sources or used different algorithms to interpret language—some provided a helpful first draft, while others did not, or even hallucinated.

“Our goal is student learning. It was for this reason that we like to deploy the AI tools at the end of our exercises: You do the work and then interrogate it with the AI tools of your choice,” explains Reiss. Just recognizing the capacity for different platforms to produce different results is critical. “AI is not a replacement for lawyers. We want our students to understand how it can be an enhancement for lawyers. It can increase efficiency and help meet tighter deadlines. The lawyers who adapt to AI will succeed and those who put their heads in the sand will fall behind.”

    *     *     *

Some law students are already trying to improve AI for practical usage. When Biying Cheng ’25 was at Cornell Tech’s Entrepreneurship Clinic, she assisted a client who designed an AI chatbot to help tenants deal with landlord issues and housing court. “We devised questions to test what level of detail the chatbot could and should provide, considering legal liability and jurisdictional issues,” says Cheng, who was already comfortable with AI. “I’m not a native speaker, and ChatGPT helped me draft emails, outline memos, and find resources. I called it Professor G and asked it to explains words I was unfamiliar with.”

Cheng’s pursuit of a J.D. came after receiving a master’s in international finance from Columbia University and a B.A. from The Chinese University of Hong Kong. Her work with the AI chatbot was a full-circle moment for someone who had witnessed Chinese students in Hong Kong participating in protests because of a serious housing problem. She saw how the law and AI could help New York City tenants facing housing issues. Cheng also co-authored an article with Professor Reiss on the real world impact of crypto and blockchain on tenants and real estate investors.

“The legal industry tends to be pretty conservative,” says Cheng, who now clerks for the U.S. District Court, Eastern District [of New York]. “But lawyers should want to become fluent in AI as a way to understand how it can impact lives in better ways.”

“We’re going to look to our younger colleagues to move us forward,” says Reiss. He believes that AI can help “refine legal judgment” with the right kind of prompting and critical review. AI can help lawyers “stress test” their own reasoning , identify blind spots, and learn about novel issues.

June 16, 2026 | Permalink | No Comments

June 12, 2026

Cornell is Hiring a Transactional Clinician

By David Reiss

By Claude-Étienne Armingaud – Claudé, CC BY 2.5

Cornell Law School is hiring! We are looking for a clinical professor of entrepreneurship law who will work with our Entrepreneurship Law Clinic and our Blassberg-Rice Center for Entrepreneurship Law. Our students work with clients with a diverse range of entrepreneurial efforts, and in the process gain valuable skills for their legal careers. If you are interested in helping to train the next generation of entrepreneurs and the lawyers who will serve them, please consider applying. Or if you know of other suitable candidates, please let them know of this great opportunity in Ithaca.

The full job posting is here.

June 12, 2026 | Permalink | No Comments

June 8, 2026

Divorce and The Housing Market

By David Reiss

AI image generated by Reve

Marketplace interviewed me in for this response to a reader’s question, Can Divorce Affect The Housing Market? The story reads,

How much does divorce affect the economy, especially housing prices? In Davis, California, where I live, at least four households on my block have kids who effectively have a second house somewhere else in town with their other parent.

We know the effects divorce can have on household finances — it can lead to a decline in income, especially for women. One study from researchers at the University of Michigan and Boston University found that women increased “their labor in the workforce following a divorce. But when it comes to the housing market, there’s little economic research on this topic.

The evidence we do have indicates that divorce can lead to a decline in homeownership rates, said Anthony Orlando, an associate professor of finance, real estate and law at California State Polytechnic University, Pomona, pointing to one Denmark study from 2019 that used a model to predict the correlation between the two.

“When there’s a divorce, there’s usually a sharp drop in wealth or net worth, because they’re splitting assets and there are costs associated with the divorce, paying for lawyers, etc. and all those things tend to reduce homeownership,” Orlando said. “If you’re only relying on your income rather than also having somebody else’s, you’re less diversified, and you might have more difficulty making the mortgage payments.”

Orlando said he hasn’t seen good studies on how divorce affects housing prices, but if there’s a decline in homeownership demand, then prices could decline.

The inverse is also true – the state of the housing market affects divorce.

“If housing prices increase significantly, there’s some evidence suggesting that divorce rates among homeowners actually goes down, and the reason is because when housing prices increase, there’s less financial stress. The married couple now has a house that’s worth more money,” Orlando said.

Rising rental prices could also make couples more hesitant to take the leap toward divorce. When housing prices go up, so do prices in the rental market. If someone is considering dissolving their marriage and sees high apartment prices, they might decide it doesn’t make financial sense to divorce, Orlando said.

There’s also a correlation between the broader economy and divorce.

“When the economy is hot, people divorce at higher rates, and when the economy is weak, it’s in recession, they divorce at lower rates,” said David Reiss, a law professor at Cornell University who studies housing policy.

Their mortgage may be underwater and they could be financially strapped, making the prospect of divorce difficult, Reiss said.

“Most of us in our day-to-day lives think to ourselves that questions of love and hate and relationships are driven by us as people,” Reiss said. But when you take a 10,000-foot view, you see how much the economy can drive our decisions, Reiss said.

June 8, 2026 | Permalink | No Comments

May 14, 2026

The Real Deal: NYC’s Rent Stabilization Crisis

By David Reiss

Jonathan Mines of the Mines Group; David Reiss, former RGB chair; Rafael Cestero of Community Preservation Corporation (Getty, LinkedIn, Mines Group)/Graphic by The Real Deal

The Real Deal quoted me in NY’s Rent Stabilization Crisis. It reads, in part,

The goal for rent-stabilized housing, as panelists from the landlord and tenant sides agreed at a sold-out New York City Bar Association event last week, should be a return to balance and predictability.

In that perfect world, owners get enough revenue to sustain their buildings and earn modest returns, tenants pay their rent, and those who cannot afford it are subsidized by the government, not by the landlord.

Reality check: This scenario is not readily achievable. It might even be impossible.

The consensus among the expert panelists was that the politics that governs rent regulation in New York will continue to result in overcorrections as legislative power swings from one side to the other.

“There is no way that a political process is going to create a good outcome for tenants and buildings over the long run,” said Rafael Cestero, CEO of the Community Preservation Corporation.

Cestero said 36 percent of the huge portfolio of rent-stabilized loans that CPC services have a debt service coverage ratio below 1.0, which means the buildings securing those mortgages lose money every month.

When owners had the upper hand in Albany, “they kept asking for more and more,” he said. “The dynamic has now completely flipped. Tenants have the power in Albany, and continuing to ask for more and more and more is just going to perpetuate the cycle of where we are today.”

And where is that?

“I do think,” said former Rent Guidelines Board chair David Reiss, “we’re in the midst of a slow-moving train wreck.”

May 14, 2026 | Permalink | No Comments

April 27, 2026

Rising Property Tax Assessments

By David Reiss

Canton, NY (CC BY-NC 2.0 Decaseconds)

I was interviewed by North Country Public Radio in Canton’s  Reassessment Doubled Many Home Values. How Does That Affect Taxes? The story reads,

Last month, Canton residents started receiving letters in the mail notifying them of their new property value assessments. Some people said their home values more than doubled, causing concern about unaffordable tax increases.

Canton’s last property tax assessment was almost two decades ago, in 2008. Since then, the values of people’s properties have changed. They’ve mostly gone up.

The town says properties were assessed at only 60% of their market value, and that the new revaluation brings these property values back up to 100% of their assessed value.

Reassessments have also happened recently in Potsdam, Ogdensburg, and other towns in the North Country. According to the Department of Taxation and Finance, these revaluations are happening to equalize property values so that people are taxed fairly.

But these changes have shocked some Canton residents. At a town board meeting in March, Phillip Burnett said his assessment seemed way too high.

“It’s so far out of whack…we’re talking about a double wide that tripled in 13 years,” said Burnett. “The discrepancy is so large that I don’t have confidence in anybody inside of these four walls, because this is what you voted for. I mean, my hair’s blown back that you guys got it so wrong.”

Town Supervisor Jim Smith says that just because a property value increases, that doesn’t mean your taxes will.

“That does not mean your taxes are going to double. No way, does it mean your taxes are going to double,” said Smith. “They would only double if county, town, and school left their tax rates at the very same rates as what they are, but all those tax rates are going to come down.”

Smith says he’s expecting there to be a reduction in tax rates by next year. That’s because, due to this reassessment, Canton’s tax base is expected to grow from $417 million to $730 million.

David Reiss, a Clinical Professor of Law at Cornell University, says property assessments need to keep up with how neighborhoods change.

“And so if you don’t reassess, you don’t really capture the introduction of the park. You don’t capture the introduction of the highway exit,” says Reiss. “And so you have relative unfairness where maybe both houses were valued at $200,000 15 years ago, but one is now worth $250,000, and then the other’s worth $400,000. And the reassessment is supposed to capture how that has diverged over time.”

Reiss says there are many variables, but it’s important for property owners to understand not just the assessed value of their property, but also their neighbours and the town as a whole.

“You need to understand the tax rate. You need to understand the budget. And then you have a better sense of how this is playing out across the board and also how it’s playing out for each individual property owner.”

Canton residents have the opportunity to contest their new property values at Grievance Days, which start on May 26. Town Supervisor Jim Smith encourages people who have concerns with their assessment to get in touch with the assessor’s office.

Smith says that in the future, he’s hoping to make these assessments happen more often, so that people aren’t surprised by what their property’s assessed value is.

April 27, 2026 | Permalink | No Comments

April 16, 2026

NYC Rent Adjustments and Freezes

By David Reiss

NY1 interviewed me this morning in Former Rent Guidelines Board Chair Talks Process, Possibility of Freezing Rent: 

Mayor Zohran Mamdani promised to freeze the rent on nearly 1 million stabilized apartments as a signature part of his campaign.

Despite a late push by former Mayor Eric Adams to lock up the rent board for a year, Mamdani was able to appoint a majority of the members who will decide in June whether they agree with his push for a rent freeze.

David Reiss, a former chair of the Rent Guidelines Board, joined “Mornings On 1” to talk about the process and the plausibility of the plan.

Click the link to watch the full interview.

Pat Kiernan and I discussed the column I wrote with Nestor Davidson about the process for determining rent adjustments for NYC rent-stabilized units.

 

April 16, 2026 | Permalink | No Comments

April 14, 2026

Current Issues in Affordable Housing in New York City

By David Reiss

New York City Bar

I will be moderating a panel on Rent Freezes, the Housing Stability and Tenant Protection Act of 2019 (HSTPA), and Nonpayment at this in-person New York City Bar program on May 7th. The registration link is here and the full program description is below:

Description:

This program will provide an inside perspective on the future of affordable housing in New York City.  Seasoned practitioners from the private and public sectors will discuss the role of the city, state and federal governments, in conjunction with for-profit developers and not-for-profit organizations, in building and preserving affordable housing. Participants will learn about the statutory, regulatory and business considerations underlying critical topics in affordable housing.

Three expert panels will present on the following:

    • Rent Freezes, the Housing Stability and Tenant Protection Act of 2019 (HSTPA), and Nonpayment
    • The Community Opportunity to Purchase Act (COPA)
    • Case Study – Office to Residential Conversions

The detailed agenda for the day follows.

9:00 am – 9:05 am        Introduction & Program Overview

Farhana H. Choudhury, Associate Counsel/Chief of Staff for Legal at NYSHCR

Julia A. Solo, Senior Vice President & Counsel at Federated National Land

9:05 am – 10:05 am       Panel 1: Rent Freezes, the Housing Stability and Tenant Protection Act of 2019 (HSTPA), and Nonpayment

This panel will focus on the impacts of the HSTPA that have limited rent increases for things like apartment and major capital improvements, the Mamdani administration’s proposal for an extended rent freeze, and post-pandemic rent collection challenges.

Organizers:

Farhana Hassan Choudhury, Associate Counsel/Chief of Staff for Legal

Andrew M. Darcy, Pro Bono Counsel at Cleary Gottlieb Steen & Hamilton LLP

Moderator:

David Reiss, Professor, Cornell Law School

Panelists: 

Doug Apple, CEO, 1811 Consulting

Rafael Cestero, CEO, Community Preservation Corporation (CPC)

Tim Collins, Partner, Collins Dobkin & Miller LLP

Rob Ehrlich, Partner, Lazarus Karp Ehrlich McCourt, LLP

Topics will Include

    • Trends in Court
    • Long-Term Sustainability & Expectations Over the Next 5-10 Years
    • Potential Solutions
    • Public Commission

Question & Answer Session Conclusions

10:05 am – 10:15 am    Break

10:15 am – 11:15 am     Panel 2: The Community Opportunity to Purchase Act (COPA)

This panel will discuss the current status of the Community Opportunity to Purchase Act (COPA).  In December 2025, COPA passed the City Council but was vetoed by outgoing Mayor Adams on his last day in office. Mayor Mamdani and new City Council Speaker Menin did not attempt a veto override when the new City Council was seated in January, and the bill which passed City Council in December is effectively dead for the time being, although many advocates and politicians, including Mayor Mamdani, have vowed to continue the fight for COPA. It’s not clear where COPA will stand in May, but this panel will examine the history and advocacy behind COPA, its operation in Washington, DC and San Francisco, and potential constitutional challenges to the law.

Organizers:

Gerrald Ellis, Deputy General Counsel, Paths Development

Alexandra Hohauser, Associate at Nixon Peabody LLP

Moderator:

Gerrald Ellis, Deputy General Counsel, Paths Development

Panelists:

Erica F. Buckley, Partner, Nixon Peabody LLP

Arielle Hersh, Director of Policy and New Projects, UHAB

Topics will Include

    • Overview of COPA, as proposed, in NYC
    • Current status of COPA in NYC
    • Discussion of the main sticking points in even getting COPA passed
    • Discussion of COPA in Washington, DC and San Francisco
    • Potential constitutional challenges

Question & Answer Session  Conclusions

11:15 am – 11:25 am     Break

11:25 am – 12:25 pm     Panel 3: Office to Residential Conversions that include Affordable Housing

This panel will discuss the challenges and benefits to office-to-residential conversions in New York City, including land use considerations, challenges in design, the unique considerations of financing, the 467-m tax incentive and case studies.

Organizers:

Daniel M. Bernstein, Member and Leader of the Tax Incentives and Affordable Housing Department at Rosenberg and Estis, P.C.

Zachary L. Nathanson, Senior Associate Attorney at Adler & Stachenfeld LLP

Moderator:

Daniel M. Bernstein, Member and Leader of the Tax Incentives and Affordable Housing Department at Rosenberg and Estis, P.C.

Panelists: 

John Cetra, FAIA, Co-Founder, CetraRuddy Architecture D.P.C.

Tricia Dietz, Assistant Commissioner for Housing Incentives, NYC Department of Housing Preservation and Development

Alexander Tendler, Vice President at Vanbarton Group

Daniel Weisen, Senior Director at Eldridge Capital Management

Topics will Include

    • Land Use Considerations
    • Partial Conversions
    • Design Considerations in the Conversion Process
    • 467-m: Eligibility Considerations
    • 467-m: Applying for Tax Exemption Benefits
    • Lender Considerations
    • Case Studies

Question & Answer Session Conclusions

12:25 pm – 12:30 pm     Closing Remarks

Farhana H. Choudhury, Associate Counsel/Chief of Staff for Legal at NYSHCR

Julia A. Solo, Senior Vice President & Counsel at Federated National Land

April 14, 2026 | Permalink | No Comments