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EXCLUSIVE: Zohran Mamdani, a socialist mayoral candidate in New York City, is advocating for solutions to the city’s housing problems, such as a rent freeze. However, a local expert interviewed by Fox News Digital expressed concerns that Mamdani’s proposals may exacerbate rather than alleviate the housing situation.
John Ketcham, a legal policy fellow and director of cities at the Manhattan Institute, emphasized that the root issue in New York City’s housing market is the lack of supply to meet the demand. He attributed this imbalance to government regulations that hinder private sector construction, leading to escalating prices due to insufficient housing units.
Mamdani, who portrays himself as a defender of the working class, has been vocal about implementing policies like rent freezes. However, Ketcham pointed out that freezing rents for rent-stabilized apartments could have adverse effects on the quality of housing stock.
Ketcham highlighted the importance of maintaining housing quality by ensuring that rent increases cover operational costs for building owners. He questioned whether Mamdani’s approach would create a city with deteriorating living conditions or one with diverse housing options for residents.
According to Ketcham, addressing issues in New York City’s housing market also involves improving the management of existing public housing units. He criticized the lengthy repair times in public housing and raised concerns about the city’s ability to attract newcomers with better living conditions.
In his campaign platform, Mamdani has proposed constructing 200,000 affordable housing units and implementing a freeze on over 2 million rent-stabilized apartments. While Mamdani aims to address affordability challenges, Ketcham expressed skepticism about the effectiveness of rent controls in promoting housing investment.
Ketcham warned that policies restricting private sector involvement in housing development, as advocated by Mamdani, could hinder the growth of new housing stock. He emphasized the importance of allowing private investment in building new housing to meet the city’s needs.
Fox News Digital sought a response from the Mamdani campaign but did not receive a reply at the time of publication.
