I was watching Spectrum News’ interview with Zohran Mamdani this morning and was caught off guard when he said that his planned rent freeze for rent stabilized apartments would be for four years and not for the single year that I assumed it would be. Maybe this is already common knowledge, but it was news to me.
I live in a rent stabilized apartment and this would be GREAT for me. I wonder what effects this would have on the real estate market of NYC, though? I’m not knowledgable enough to have a clear answer and opinions seem to be starkly divided. Would a 4 year rent freeze have as negative of an impact on New York as some people online have made it seem?
The Spectrum Interview (he mentions the four-year rent freeze at 4:40): https://youtu.be/upO5hQ-b5N4?si=K5ZXq_r3Cd-lsvdX
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