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Mamdani's Rent Freeze Fiasco Is Squeezing Landlords Dry, While NYC Housing Crumbles
Hotair ^ | 02/21/2026 | Ward Clark

Posted on 02/21/2026 8:18:40 PM PST by SeekAndFind

There's one utterly reliable thing about socialism: It fails, every time it's tried. It may fail on the national scale, like the Soviet Union, or it may fail on the municipal scale, like New York City is in the throes of doing right now. The "democratic socialist" mayor of the Big Apple, Zohran Mamdani, has never seen a commie policy he didn't like.

One of those policies is freezing rents in the city. That's already producing predictable results: Landlords are selling out and leaving.

When Zohran Mamdani ran for mayor of New York City, he made one promise unmistakably clear: he would freeze the rent. Now that campaign tentpole is poised to collide with the complex economic factors exacerbating the Big Apple’s housing affordability crisis.

As his administration begins to take shape, that pledge, rooted in a democratic socialist vision of housing as a human right, is likely to be the first major political test for Mamdani. Supporters say it is an urgent lifeline for tenants battered by inflation and record rents. Critics warn it could destabilize the city’s fragile housing ecosystem, deepen building distress, and accelerate an exodus of small property owners.

The housing ecosystem is fragile due to decades of previous socialist stupidity; the commie Mamdani isn't the first socialist nitwit to attempt to addle the Big Apple's housing market with a big red spoon. And landlords are responding, predictably.

"I have people walking away. I have two people selling their buildings right now. I have more people selling the buildings and leaving for Texas and Florida," Humberto Lopes, founder of the Gotham Housing Alliance, told Fox News Digital.

"People already came to me, and I have their buildings on the market already. Since January, my business in the real estate, I'm a licensed corporate broker, has doubled in the number of buildings we are selling."

What did they think was going to happen?


Read More: This Is Nuts: Mamdani Health Czar Ran Group Registering Mental Patients to Vote

Mamdani Told New Yorkers How He Felt About the Police, Now He's Showing Them


This entire "Believe a communist's promises, vote him in, everything falls apart" cycle has been repeated so many times that it's growing truly tiresome, and yet now, a city that was once perhaps the greatest city on the planet is suffering under one of the most clueless practitioners of the socialist's "art." This happens because of the two claims that socialists make whenever socialism inevitably fails:

  1. That wasn't real socialism.
  2. We just need the right Top Men, then it will all work.

Zohran Mamdani has successfully sold himself to New Yorkers as the next in a line of Top Men, and he won't have any more success than the others did.

As far as housing is concerned, the only silver lining is that Mamdani's ability to freeze rents is limited.

Roughly one million apartments in New York City are rent-stabilized. A rent freeze would apply only to those units, holding annual increases at zero down from 3% for at least a year.

Even so, that's one million apartments. And we should note that these rent-controlled apartments suffer significantly poorer upkeep than market-rate units. The New York City Housing and Vacancy Survey has some data. In "rent-stabilized" apartments, only 47 percent have shown no maintenance deficiencies, compared to 63 percent of market-rate units. For 3 or more maintenance deficiencies, the figures are almost 18 percent for rent-controlled units compared to 7.5 percent for market-rate units, and for 5 or more, it's 4.2 percent compared to only 1.4 percent. These are significant differences, and this has to be in part because the market-rate unit landlords have more leeway, financially, for upkeep.

New York City has elected a communist mayor, and now the residents of the Big Apple are, literally, paying the price for it. Once again, socialism will have failed. Once again, the people least able to afford the results of these lunatic policies will be the ones hit the hardest. 



TOPICS: Business/Economy; Culture/Society; News/Current Events; US: New York
KEYWORDS: affordability; affordabilitylol; housing; lolaffordability; mamdani; momsdummy; newyork; nyc; rent; topmen

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1 posted on 02/21/2026 8:18:40 PM PST by SeekAndFind
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To: SeekAndFind

Not every landlord is a wealthy multi building corporation CEO. Some inherited a house or a 4 apartment building or bought one or two as an investment a long time ago.

Nothing like upkeep, property taxes and maintenance costs going up while rents are frozen like Eskimo Pies. For going broke.


2 posted on 02/21/2026 8:23:11 PM PST by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls. )
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To: SeekAndFind

The Big Rotten Apple


3 posted on 02/21/2026 8:29:04 PM PST by butlerweave (Fateh)
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To: SeekAndFind

This is all part of the plan.


4 posted on 02/21/2026 8:32:13 PM PST by bigdaddy45
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To: frank ballenger

Based on voting patterns most of them have continually voted for this downward trajectory to where we they are today. They have made their beds now lie in it.


5 posted on 02/21/2026 8:32:57 PM PST by gunnut
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To: bigdaddy45

RE: This is all part of the plan.

The Plan was actually PRESENTED OUT IN THE OPEN DURING THE MAYORAL CAMPAIGN!

But the majority of New Yorkers liked it... so here we are.


6 posted on 02/21/2026 8:33:24 PM PST by SeekAndFind
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To: SeekAndFind

I don’t know if Mamdani’s stupid, ignorant, immature, childish or just plain evil. So for now I’m just going to go with a combination of all five.


7 posted on 02/21/2026 8:34:36 PM PST by Bullish (My tagline ran off with another man, but it's okay... I wasn't married to it.)
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To: bigdaddy45

Yep, drive out building owners and the city swoops in and buys them for public housing. That’s when the real $hit Show starts.


8 posted on 02/21/2026 8:41:07 PM PST by BookmanTheJanitor
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To: BookmanTheJanitor

Yep, drive out building owners and the city swoops in and buys them for public housing. That’s when the real $hit Show starts.

He’ll fill the vacancies with islamists.
That’s the plan. Drive the people out and replace with Muslims.


9 posted on 02/21/2026 8:44:49 PM PST by weston (As far as I'm concerned, it's Christ or nothing)
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To: SeekAndFind

Well everyone who voted for the idiot who rent. Well their rents froze along the water pipes because the building heat is broke and the landlord declared bankruptcy and left town. Excuse me while I LMAO. WTF did they expect?


10 posted on 02/21/2026 8:48:57 PM PST by Equine1952 (MM1SS SASOB)
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To: SeekAndFind
But the majority of New Yorkers liked it... so here we are.

Like I've written on this forum many times, socialism and communism will always be popular with those who think they can get something for nothing.

11 posted on 02/21/2026 8:57:13 PM PST by libertylover (The HBM (Has Been Media) is almost all AGENDA-DRIVEN and HATE-DRIVEN, not-truth driven.)
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To: gunnut

So the logical solution is for the socialist government to take over all housing and divide it equitably as it sees fit under the grand plan. /S


12 posted on 02/21/2026 8:58:36 PM PST by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls. )
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To: Bullish

Why not all of the above?


13 posted on 02/21/2026 9:00:56 PM PST by cableguymn (Can't cancel all of us)
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To: SeekAndFind

Yeah, socialism. Ain’t it swell?

Eldery woman leaning on a walker in a block long line in winter: “You know, Edna, last time I did this the rutabagas and the turnips were all that was left on the shelves. That’s what I get for being at the waiting room of the socialist doctor’s office for three hours and missing half the day of standing in line.”

Friend: “Don’t let anybody hear this but I have some graham crackers at home. You’re welcome to share after today’s line.”

Woman: “This was my lucky day.”


14 posted on 02/21/2026 9:07:00 PM PST by frank ballenger (There's a battle outside and it's raging. It'll soon shake your windows and rattle your walls. )
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To: SeekAndFind

Feel the warmth.


15 posted on 02/21/2026 9:10:36 PM PST by dfwgator ("I am Charlie Kirk!")
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To: butlerweave

Don’t mind the maggots.


16 posted on 02/21/2026 9:10:54 PM PST by dfwgator ("I am Charlie Kirk!")
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To: SeekAndFind

“Once again, socialism will have failed. Once again, the people least able to afford the results of these lunatic policies will be the ones hit the hardest. “

And once again, landlords and capitalists will be blamed for socialist ideas and reality residing in different universes.

And once again, the legacy media will willingly repeat the leftists blame game.


17 posted on 02/21/2026 9:15:55 PM PST by ModelBreaker
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To: cableguymn

That’s kinda’ what I was trying to say.


18 posted on 02/21/2026 9:16:29 PM PST by Bullish (My tagline ran off with another man, but it's okay... I wasn't married to it.)
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To: BookmanTheJanitor

“Yep, drive out building owners and the city swoops in and buys them for public housing. That’s when the real $hit Show starts.”

But Mamdami, AOC, and Bernie tell us that public housing is the bees knees. Cabrini Green is the sparkling monument to successful public housing.


19 posted on 02/21/2026 9:17:30 PM PST by ModelBreaker
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To: All

Who didn’t see this coming?

Hell, he even told you in advance what he wanted to do, yet the vast majority proudly and loudly voted for him.


20 posted on 02/21/2026 9:19:29 PM PST by LegendHasIt
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