Empire State of delusion — rent controls and the illusion of affordability

Zohran Mamdani's recent proposals for a rent freeze and the development of 200,000 subsidized housing units have sparked significant debate. While his populist approach resonates with many, as noted in related discussions, economists caution that such measures could exacerbate New York City's housing challenges. This sentiment is echoed by critics like Jon Voight, who has publicly opposed Mamdani's policies, fearing they could lead to a 'socialist' city. The interplay of Mamdani's electoral success and the warnings from experts highlights the complexities of addressing housing affordability in a city already grappling with significant economic disparities.