Mamdani's latest horrible, terrible, really bad idea
New York Mayor Zohran Mamdani's latest idea for the New York housing market will be bad for New York, particularly the needier people within New York. His housing proposal will make the existing market worse and if the City succeeds in taking over existing housing, as the Mayor proposes, these will turned over to an agency with a horrible track record. But let's take a step back and acknowledge the positives of the Mamdani's plan. The Mayor proposes changes to land use and zoning rules, as well as building codes to "lower construction costs and reduce delays in housing development." The plan includes goals to build 200,000 new affordable homes and preserve another 200,000 existing affordable units. To fund this, the City will invest $22 billion in housing funding over the next five years.*1 Mamdani also proposes to improve enforcement of building codes on existing buildings, to help current residents. Another positive aspect to his proposal but with uninten...