Posted on 06/25/2026 8:16:12 PM PDT by MinorityRepublican
A New York City panel voted on Thursday to freeze rents for nearly one million rent-stabilized apartments, fulfilling one of Mayor Zohran Mamdani’s key campaign promises and handing the mayor a major policy win six months into his tenure.
The panel, known as the Rent Guidelines Board, approved the freeze on both one- and two-year leases in a 7-to-1 vote, pausing increases on more than 40 percent of all apartments across the five boroughs — a mix that includes high-rise luxury apartments, deeply affordable subsidized units and 150-year-old walk-ups. New York City now may offer a model for rent control efforts in other cities and states.
“This is a historic victory for New York City tenants,” Mr. Mamdani said in a statement after the vote. He added, “I’ll continue working to deliver a more affordable city by building and preserving affordable housing, lowering building operating costs like insurance and ensuring tenants know their rights.”
The freeze would apply to leases beginning on or after Oct. 1. It was the first rent freeze ever on both one- and two-year leases.
The decision on a contentious issue adds to an already triumphant week for the mayor, who enjoyed a stunning political victory on Tuesday when three left-leaning candidates he endorsed won congressional primaries.
The vote on Thursday took place at El Museo del Barrio, a museum in East Harlem. Dozens of pro-tenant activists flooded an auditorium, holding signs and chanting, breaking into sheer jubilation after the vote. Several tenant organizers were crying in happiness. A festive atmosphere prevailed outside the building in the evening, with organizers passing around pizzas and blasting music, like the song “We Are The Champions” by the band Queen.
(Excerpt) Read more at nytimes.com ...
Dear FRiends,
We need your continuing support to keep FR funded. Your donations are our sole source of funding. No sugar daddies, no advertisers, no paid memberships, no commercial sales, no gimmicks, no tax subsidies. No spam, no pop-ups, no ad trackers.
If you enjoy using FR and agree it's a worthwhile endeavor, please consider making a contribution today:
Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you,
Jim
Plank #1 of the Communist Manifesto: Abolition of private property rights, and application of all rents of land to public purpose.
which he stacked.
Cato on rent control
Brookings on effects of rent control
Yeah a “major victory”, from a board he stacked with Communists.
Real estate property owners are already “immigrating” to friendlier states and they should all be granted ‘asylum from political persecution’. Drama /off
No kidding. A few months ago he appointed six of the nine members of the board, including the chair.
Disgusting isn’t it.
I would assume this means that all rental agreements before October 1st are going to go up, a lot.
My wife worked for Montgomery Wards when they got the word that Nixon was going to freeze wages and prices. She said they all worked all night marking up everything in the store in preparation for the freeze.
Instant inflation.
I clearly recall all the newly discovered cuts of beef that cost more and the disappearance of the old cuts with frozen prices.
This is actually a “takings” for which there should be just compensation.
Isn’t this kind what led to all those people moving into Doctor Zhivago’s house?
Unlike Trump, it sounds like Mamdani won’t have to deal with officials and judges blocking every move he makes.
Easily solved, just tell those judges you made this ruling you try and enforce it...Trump doesn’t have the nerve.
It’s amazing, absolutely amazing, the way left-wing (and far left-wing) Democrats are able to implement pretty much every single thing they want, while Republicans get constant, endless push-back from the courts on everything they try.
The communist block implemented price controls across the spectrum.
It resulted in the infamous shortages of practically everything.
So we can expect housing shortages in NYC.
You know that, I know that, they HAVE to know that. So this stupid decision has to be a step towards the end goal. I assume it’s to run the landlords off so that they can buy the properties for cheap.
Or something equally devious.
IIRC 38% ain’t paying anyway since they can’t be evicted.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.