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Posted on 07/14/2026 6:42:04 AM PDT by Red Badger
When Zohran Mamdani was running for mayor of New York City, he repeatedly talked about freezing the rent. Voters heard this and thought it meant that if Mamdani was mayor, their rent would go down.
That’s not how the real world works, but that’s what people heard. In a sense, they heard what they wanted to hear. Mamdani knew all of this but he kept talking about it anyway.
Now he has been in office for six months and rents in New York City just hit an all-time high.
The New York Post reports:
NYC housing crisis hits ‘DefCon 1’ as rents jump to more all-time highs
The city’s housing crisis has hit “DefCon 1” — with average rents for a one-bedroom in Manhattan hitting an all-time high of nearly $5,500 last month, and Brooklyn following suit, according to new data and critics.
“We need bold action. This is a crisis,’’ New York City Comptroller Mark Levine posted on X over the weekend, along with a link to the latest figures from the inhabit blog by real-estate giant Corcoran Group.
The dismal June stats reveal that renters paid an average of $5,408 for a one-bedroom in Manhattan, with studio prices not far behind at $4,014.
In Brooklyn, the average one-bedroom cost renters $4,297 a month.
As for the overall median rent for an apartment in Manhattan, it hit $5,295 last month, while those in Brooklyn shelled out a median $4,350 a month, or a roughly 8% increase for both boroughs year-over-year, according to the data focused on the two areas of the city.
It’s a simple issue of supply and demand.
From FOX News:
Manhattan’s and Brooklyn’s median rents reached $5,295 and $4,350, respectively, in June, according to an analysis conducted by the Corcoran Group, a real estate firm. The most recent available data shows roughly 38% of New Yorker residents were born outside the United States, and about 40% of rentals in the city are occupied by foreign-born individuals, though the data does not distinguish between legal and illegal immigration status.
“You declared yourself a sanctuary city. You ‘welcomed’ hundreds of thousands of illegals. Then you had to find places to put them,” conservative radio host Andrew Wilkow wrote on X, reacting to news of increased rents. “That put pressure on housing supply. Shortages create price increases. It’s pretty simple.”…
“Young Americans compete for housing with millions of foreign arrivals,” Rep. Brandon Gill, R-Texas, wrote on Monday in response to the rent data out of New York City.
The Mamdani people seem to think the city can just buy up all the real estate and then become one of the biggest landlords in the city.
That won’t work either. The city doesn’t have the money or the personnel to manage apartment buildings all over the city.
New Yorkers are going to learn a painful economic lesson on Mamdani’s watch.
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The Mamdani Effect ,LOL
Morons.
Stupid is supposed to be painful.
L
I lived in a rent-controlled apartment in Manhattan at one point. It was a massive scam. It was rented by a very wealthy movie producer who sublet it to his brother who in turn sublet it to me. It was a palace that I rented for a pittance. But those were few and far between. Once I left that apartment, I got a normal one that cost a fortune for a little efficiency. I made a lot of money but saved nothing because the cost of living was so high. The city is going back to that.
I bought a lovely 3200 sq. ft. house, just under Lake Lanier (I can see the lake from my front yard), and my mortgage is half that.
I’ve always heard that New York City city has rent control on many apartments.
I don’t know the details, and perhaps someone here can fill us in. But I’m thinking that the market there is distorted. If some apartments are rent controlled, it would make sense that those that are not rent controlled would be more expensive.Just based on supply and demand.
So, what is his socialist plan to deal with this situation?
And how come they don’t have free buses yet? Is he really delivering on his socialist promises? Or has the real world it interfered with his plans?
Good post.
Folks often get confused by what the law says—when the real world operates totally differently.
Even though it was totally illegal to transport slaves from Africa during the later part of that period several of the wealthiest folks in the city were merchants who made great fortunes doing exactly that.
They laughed at the “law”.
His free bus plan was just that, a plan.....to get votes.
He’s going full socialist.
The next step is to confiscate the apartment buildings on some flimsy pretense.
New Yorker’s only hope is that the City Council can stop this Madman from destroying their city..............
Socialist price controls in action
I liked “The Rent Is Too Damn High” guy back in the day. If he’s still alive I’d love to hear his take on this.
It will only get worse.
Atlas is about to Shrug.
Who is John Galt?...................
Yep. Like wage and price controls tried in the 1970’s
The prices are high because people are willing and can afford to pay those prices. Are the richer people doing fine, and the less rich having to struggle, or having to work a long way from Manhattan?
No prob,just double the min wage. /s
Now comes the failing plumbing, intermittent garbage disposal pickup, and infrastructure problems like elevators.
All predicted with years of failed socialism as an easily observed historical model.
Obviously, they just haven’t found the right socialist and tried hard enough yet. Time to round more people up for the camps, maybe if the remove those who do not embrace the warm collectivism it will work.
Well, the Feds showed that illegals spiked rents by 20%, so there is that. If you welcome criminals they cost you more.
What happened to Mamdani’s Housing Czar Cea Weaver ? LOL
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