Half the joke in the Mamdani rent-freeze is that it doesn’t do more than limit the rate of growth of landlord incomes.
If anything, it encourages landlords to start releasing more units that have been withhold from the market as an excuse to raise rents as there’s less incentive to constrict supply under a price cap. That’s going to mean more cashflow, even if it threatens lower profits per unit.
Source on this here. Indeed the landlord story of “but we can’t afford repairs!!” was a lie. On the other hand, doesn’t this also imply that we’ve already got most of the effected units on the market. So we shouldn’t expect many more gains?
You’d need someone with access to a large body of accurate data to survey it and tell us.
One more reason why a guy like Mamdani in the mayorship is useful. He’s invested in identifying real estate bottlenecks and unclogging them, whereas an Eric Adams simply doesn’t care and a Cuomo would only do the work if he got some kind of kickback.
If only.
Half the joke in the Mamdani rent-freeze is that it doesn’t do more than limit the rate of growth of landlord incomes.
If anything, it encourages landlords to start releasing more units that have been withhold from the market as an excuse to raise rents as there’s less incentive to constrict supply under a price cap. That’s going to mean more cashflow, even if it threatens lower profits per unit.
Source on this here. Indeed the landlord story of “but we can’t afford repairs!!” was a lie. On the other hand, doesn’t this also imply that we’ve already got most of the effected units on the market. So we shouldn’t expect many more gains?
You’d need someone with access to a large body of accurate data to survey it and tell us.
One more reason why a guy like Mamdani in the mayorship is useful. He’s invested in identifying real estate bottlenecks and unclogging them, whereas an Eric Adams simply doesn’t care and a Cuomo would only do the work if he got some kind of kickback.