Mamdani's and by extension, his voters', ignorance about the effects of price controls in markets will be an interesting real-time political experiment. When the inevitable unintended outcomes become to emerge who will be blamed? https://rentguidelinesboard.cityofnewyork.us/resources/apart... https://www.zohranfornyc.com/platform Quoting Paul Krugman (Nobel prize winner and liberal columnist at the NYT). "The analysi…
The literal alternative, which is actually happening right now and not some textbook hypothetical is supply not keeping up anyway and landlords charging however much they want pretty much unbridled, not to mention major companies snapping up real estate and leveraging it as investment collateral rather than treating them and managing them as, you know, housing . We need a change. We don't need to do rent freezes in a…
2. New york city has laws making it so you can only increase rent by a small fraction of the investment for renovation taking a large amount of units off the market as its economically infeasible
3. Nyc has a very strict zoning and regulation system that is reducing housing supply