Experts warn against freezing rent from Mamdani may get worse, the housing crisis in New York City

Experts warn the nominee of the mayor of New York City Zohran Mamdani’s The proposed housing agenda can increase the capacity of rental costs in Big Apple.

The plan, which aims to address the crisis of the signs team of the ability to withstand costs, includes an immediate freeze on more than two million stable apartments.

“Economists-whether they were right or left-mainly in a global agreement, said that when the government is implemented from price controls in the rental market, you end up with a lack of housing,” said Aegean Anthony, the chief economist at the right-wing heritage research center.

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Anthony told Fox Business.

Emily Hamilton, director of the urban project at the Mercatos Center at George Mason University, has chanted similar concerns with the housing policy platform in Mamdani.

She said: “This will exacerbate housing problems in the city, which is already aggravated by the current rental stability law. Freezing rent will make this worse, and will eventually contribute to the decrease in the supply of stable units in the rent.”

The affiliate housing pledges in Mamdani come at a time when the Guidance Council voted for rent on Monday night to increase the rent by 3 % on the stable apartments for rent with a one -year rental contract. The Board of Directors also raised 4.5 % rents for units with rental contracts for two years.

It is scheduled to enter the rent in October.

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According to a government report in 2023, the stable units for rent constituted about 27 % of the total housing shares in New York City And 41 % of the rented apartments. The report also found that among the stable units in the rent, the average monthly rent was about $ 500 is cheaper than the market rents.

He previously blamed Mamdani, the council, which he describes as chosen by the mayor of the current New York City Eric AdamsFrom “collision with the highest rents on 9 % stable apartments (and count).

Mamdani’s campaign did not respond to the Fox Business request to comment for the purposes of this story.

The three -term assembly member, which made the costs of reducing the costs of New York population of the cornerstone of his campaign, also suggested building 200,000 housing units at reasonable prices. Hamilton said the Mamdani platform element shows real potential for success.

She explained that the passage of the decision to divide the regions in 1961 made it difficult to add Real estate In New York City, which contributed to the problem of bearing costs and paying the regulation of rents.

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“It is the organization of the highest organization, instead of addressing the root cause of housing and making it easy to build housing with all types of prices,” said Hamilton.

Anthony said: “The only way I see this economic agenda from his work well in the long run is if the voters sees the disastrous consequences of its policies, and thus they decided to reject the full socialist fabric and return to a capitalist solution in the free market.”

“If we look at the ways in which New York City is more expensive than other places throughout the country, this is mainly due to the poor public policy that imposed these costs,” he said, adding that “doubling that government failure will make it worse.”

Mamdani also pledged to hold the owners accountable.

Its location on his 311 service site is renewed, as tenants can schedule and maintenance requests.

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“If the owner refuses to make a reform, the city will do so and send the bill to them. In the most extreme cases, when the owner clarifies a steady negligence of their tenants, the city will enter decisively and control their property,” says the campaign site.

Mamdani’s economic agenda for the country’s largest city also includes free buses, the city -owned grocery stores and raising the minimum wage.