Fox Business’ Lauren Simonatti Democratic reports on a plan to deal with Akash-high fare prices on the Democratic New York City Mayor candidate Zoharan Mamdani.
Experts warned the Mayor candidate of New York City Zoharan Mamdani The proposed housing agenda can give more stress to the ability to rent in large apples.
The scheme includes an immediate freeze on a stable apartment of more than 2 million fare for the tag team crisis of affordable and housing.
“Economist-Charahe they are on the right or left-are in analystly universal agreement, that when the government implements price control in the rental market, you end up with a lack of housing,” said the chief economist of EJ Antony, Right-Lying Heritage Foundation Think Tank.
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“And not only you end up with low housing units, but the quality of those units go down continuously,” Antony explained the Fox Business.
Residential apartment buildings in Chintown neighborhood of New York, US on Wednesday, July 17, 2024. (Yuki Evmura/Bloomberg via Getty Image)
Emily Hamilton, director of the Urbanity Project at the Merctes Center of George Mason University, resonated similar concerns with Mamdani’s housing policy platform.
“It is going to increase the city’s housing quality problems that the current rent stabilization law is already increasing. A fare freeze will make just so worse, and eventually contribute to a decrease in supply of stable units on rent,” he said.
Mamdani’s affordable housing pledge comes as the guidelines for rent voted on Monday night to increase the fare on a stable apartment with a one -year lease. The board increased the fare by 4.5% for units with two -year leases.
There has been an increase in fare to be effective in October.
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According to a government report in 2023, the overall housing in the fare was about 27% of the overall housing stock. New York City And 41% rental apartments. The report also found that the average monthly fare was about $ 500 cheaper than the market-by fare, among the rented-stable units.
Mamdani has first convicted the board, which he has chosen by hand by the mayor of the current New York City Eric adams“Promoting rent on a stable apartment by 9% (and count).”
New York City Mayor Eric Adams departed after speaking at the US Conference of Mayors Winter Meeting in Washington, DC on January 18, 2023 (Nathan Posner / Anadolu Agency through Getty Image / Getty Image)
Mamdani’s campaign did not respond to the request of Fox Business to comment for the objectives of this story.
Three-Term Assembly, which has earned a low cost of their campaign for new Yorkers, has also proposed to construct 200,000 affordable housing units. Hamilton said that this element of Mamdani’s platform shows real ability to success.
He explained that it became difficult to link with the passage of the 1961 zoning resolution Real estate In the city of New York, which contributed to a push to regulate a power problem and rent.
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Hamilton said, “This is the regulation at the top of the regulation, rather than addressing the root cause of housing and makes it easy to construct all kinds of housing.”
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Antony said, “The way I look at this economic agenda of my work in a long time, it is how disastrous the voters are the results of their policies and in this way socialism decides to reject socialism and return to a free-market capitalist solution.”
He said, “If we look at ways in which New York City is more expensive than other places across the country, it is mainly due to poor public policy that has implemented those costs,” he said, “Doubling those government failures will only make it worse.”
Mamdani has also vowed to keep the landlords in mind.
The Mayor of New York City, Zoharan Mamdani, speaks during the United Federation of Teachers Mayorl Forum in New York on May 17, 2025. (Michael Nagle/Bloomberg via Getty Image)
His campaign website underlines a revived 311 service where tenants can schedule and track maintenance requests.
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The campaign site stated, “If a landlord refuses to make a repair, the city will do so and send them to them. And in the most extreme cases, when a owner demonstrates constant neglect for his tenants, the city will decisively step down and control their properties,” the campaign site is said.
The economic agenda of Mamdani for the country’s largest city includes free bus ride, city -owned grocery stores and minimum wages.
