No worries, it seems to me most of the people who can afford $100,000/mo rent are leaving anyways. There are - maybe were - about 8,000,000 people living in NYC. 33% are on some kind of government assistance. Most of those other people can't afford $100,000/mo. I read yesterday that the average cost to rent a 1br apt in NYC was $4624/mo. Less in low income units and much more for higher end units. To get elected Mamdani promised to make rent affordable. Yesterday he took action - he froze rent prices for 2 years. Thats not making anything more affordable it just locks in the already unaffordable rent for 2 years. With all of the people leaving NYC there should be plenty of vacancies. When the rental markets are saturated with vacancies prices drop. Landlords are forced to lower rents. Many landlords have mortgage payments to meet and they can't meet them with empty units.
Mamdani is totally clueless about too many things —— starting with free buses / housing/ groceries etc
Send his idiot back to where he came from,
But will Uganda let him in ???
Hopefully.
They let him out of parents gated palace —- may be that is a sign
No worries, it seems to me most of the people who can afford $100,000/mo rent are leaving anyways. There are - maybe were - about 8,000,000 people living in NYC. 33% are on some kind of government assistance. Most of those other people can't afford $100,000/mo. I read yesterday that the average cost to rent a 1br apt in NYC was $4624/mo. Less in low income units and much more for higher end units. To get elected Mamdani promised to make rent affordable. Yesterday he took action - he froze rent prices for 2 years. Thats not making anything more affordable it just locks in the already unaffordable rent for 2 years. With all of the people leaving NYC there should be plenty of vacancies. When the rental markets are saturated with vacancies prices drop. Landlords are forced to lower rents. Many landlords have mortgage payments to meet and they can't meet them with empty units.