Mamdani’s flagship housing policy has been to completely freeze rents on all rent-stabilized housing, which already limits how much landlords can raise rents.
It looks like he will regulate landlords into expropriation.
Far-left community organizer Cea Weaver worked for Housing Justice for All, a far-left organization also known as the Upstate-Downstate Housing Alliance. She also heads the New York State Tenant Bloc.
She is planning the housing policies.
“Tenants are half the state and a majority in every major city. United, we have the power to reclaim our homes from the stranglehold of the real estate industry,” she said when she founded the bloc earlier this year.
They define theft as “reclaiming,” but it won’t be for the benefit of the middle class.
The competing forces in the city are Capitalists and Marxists. The Marxists have the power.
Weaver wants to use taxes and regulations on steroids. When landlords give up their real estate, the city will jump in and buy their properties. That is how the Communist Islamist mayor becomes the Grand Poubah of landlords.
She wants code enforcement to make it look like they care. Then she wants “laws that cause real-estate values to collapse.”
She thinks having no profit motive is an advantage, especially combined with the city’s marvelous “taxing power.”
Weaver wrote all this down in an essay.
The city will become a “non-speculative market actor.” First, you have to pass laws to crush people who own property, so prices plunge and Big Brother Zohran can buy them up.
The rich will move, and the middle class will be destroyed.
Add to this that part of Mamdani’s housing plan is already to have the city construct 200,000 new, “publicly-subsidized, affordable, union-built, rent-stabilized homes” over the next 10 years.
How will he pay for it? Tax and spend, of course.
He plans to spend $100 billion to do it.
