Mamdani’s plan could push NYC housing OFF the market

本站添加: 2026-05-25

[00:00:03]We have [music] an amazing show for you today. I just got a notice that my rent is going up. That totally sucks. Not fun. But, could it be an even bigger problem if rents are completely frozen?

[00:00:15]Let's look at what is happening in New York right now, where Mondami is attempting to freeze rents, which may cause an even bigger problem. The rent freeze could take 2 million apartments out of circulation in New York, creating an even bigger housing crisis. passes.

[00:00:35]Outrage after the city's rent guidelines [music] board voted to propose rent increases for rent stabilized apartments ranging from 0% to 2% for 1-year leases.

[00:00:46]This is going to be bad news for New York's mayor because everyone living here was promised frozen rent. And although a 0 to 4% increase doesn't mean much to a voting base who's been taught that capitalism is evil and elected a mayor who's promised to replace it.

[00:01:03]Waiting for the impact of socialism isn't something anybody Right now, there are over 100 renters out here behind me waving signs and [music] chanting freeze the rent. This has really been an issue that's rallied people out out here. And I'm on a fixed income. I still got to pay 40% of my income goes to rent.

[00:01:24]>> Landlords have seen major profit. New York has got the most expensive rent in the country. $5,000 for an apartment in New York, and it could be just a shoebox. But, the problem is, if you freeze rents, what's going to happen to the housing supply? People won't build more buildings, there won't be more apartments, and if there were more apartments, that would naturally bring the price down. Basic economics, supply and demand. So, they're choking off supply by attempting to make rents more affordable and freezing the rents. But, I think Mondami should study economics 101. But it's over the last few years and while tenants have seen four straight years of increases. Rents artificially capped below [music] operating costs, buildings are starved of the funds needed to run. Maintenance gets deferred, then skipped. [music] Now May Mondami wants to freeze rents.

[00:02:12]Landlords say rising costs are hitting them just as hard.

[00:02:16]>> Even if they give us a 2% increase, it's not enough. Well, the rent has to cover the expenses. They don't want to raise the rent, don't raise the taxes, don't raise our insurance. Yeah, good point.

[00:02:25]Don't raise taxes.

[00:02:28]Yeah, Mondami is causing problems.

[00:02:32]So, the key word about this upcoming rent freeze is that it is potential. It hasn't happened yet. And what nobody's talking about is voters here are at a boiling point. They were promised frozen rent, they were promised free grocery stores, free buses, you name it.

[00:02:47]>> Bunch of lies.

[00:02:48]>> of that stuff has happened. People are tired of waiting for socialism. They want it right now. And if there is any rent increase as part of this new deal with the city's regulation body, it will mark another betrayal of the rapid communist voting base here that was told everything was going to be paid for with other people's money and can't seem to figure out why their living expenses will not stop skyrocketing. And of course >> this just not work. Where does the money come from? You can't just doesn't just grow on trees, Mondami. business, anti-construction, pro-shoplifting sanctuary. That's got nothing to do with it in their minds, even though the world knows the $5,000 rents here are the product of a lack of supply, something that could easily change if the anti-capitalists running this place would let underdeveloped land turn into apartments somehow or would let shoplifters spend time in jail as they steal things, forcing up the cost of everything that hasn't walked out the door of a store just Everything behind locked cabinets there. It's crazy. This is New York.

[00:03:56]Yeah, but here's the real reason the Mom Donny machine is slow walking off a communist cliff. In order to implement this new socialist world order for our city, the old world order it's got to be GIVEN THE BOOT, BUT IT'S still around and it's fighting back. And you've got billionaires threatening to take their companies and their jobs somewhere else at a time when landlords and those who succeeded and provide something people here need are being punished for it. As Mayor Mom Donny brags about record setting fines which property owners that have too many regulated apartments will not find the money to pay and thus will have their property seized by the city as part of this communist revolution.

[00:04:39]There's a fight going on on our streets here and some New Yorkers are wondering if there's anyone out there who can save us. Michael Mr. Bloomberg Last great mayor.

[00:04:52]One of the best mayors in New York.

[00:04:54]Bring him back. We need you back. We need you back. We need you back. We need you back. Come for another at least one year. One more year.

[00:05:01]You're on your own.

[00:05:03]We need help.

[00:05:04]>> Right. So according to New York's former Mayor Michael Bloomberg, the city's on its own and that's not just those of us living in it who stand to lose as this communist regime erases every semblance of American life and values, but it's also the people I hate seeing those communist flags flying in New York.

[00:05:23]That's horrible.

[00:05:25]all clamoring at the gates for the thing that's going to destroy this city permanently. And as you're about to see their impatience for this takeover is rather disturbing. The motion passes.

[00:05:38]Outrage after the city's rent guidelines board voted to propose rent increases for rent stabilized apartments ranging from 0% to 2% for 1-year and 0% to 4% for 2-year leases. Tenants rallied inside and outside the meeting.

[00:05:55]Yeah, but are their property taxes frozen or going up only 2% or is there a mismatch? Insurance is going up, heating is going up, other things are going up, so even a 2% increase might not be break even, might be a not enough to break even for the landlords or at least for some of them, right?

[00:06:16]saying they shouldn't be forced to choose between paying rent and buying essentials like groceries. So what? So then the landlord has to be forced between repairing the building and letting it collapse because that's the other choice and that shows you the whole problem we got going on here. If one side wins, the other side loses and if it's the landlord that loses, everybody loses. At least if rents were to go up, the buildings wouldn't fall down and we wouldn't have less housing and an even worse crisis because that's the issue. The issue is we don't have enough of these things. WE DON'T HAVE ENOUGH APARTMENTS. HAD we had more apartments, people would be able to find places to live that were affordable because they would have options. They would have choice. Landlords would have to compete. You wouldn't be able to charge five grand a month for a place that's total dump if new places are BUILT ACROSS STREET, BUT WE AREN'T DOING ANY OF THAT. AND THE FACT THAT YOU'VE GOT THESE government regulated apartments at all.

[00:07:08]>> The only system that works that we know of is free enterprise. So when you let the the system clear, when you let people build more houses, you let them rent the houses, you stop trying to control it, the communist system just does not work. We've had multiple multiple historic examples of how communism kills creativity, it kills prosperity. In the end, everybody suffers under communist regimes. We can see that from history. So why are we trying this experiment in New York? It's not going to work. WE DON'T EVEN HAVE a capitalist housing market to begin with.

[00:07:43]If we had that, every apartment would be able to have rent that was equal to the fair price of that apartment. But, because half the city's apartments can't even be rented for what they're worth, those places are falling apart right now. Those are PLACES THE MAYOR HIMSELF has toured and seen people complain about. And the people who are out there upset about a 2% rent increase on something that's a thousand dollars a month or less, these folks don't understand that sadly, if this happens, there's just going TO BE MORE CHAOS.

[00:08:11]Even though we've got a living, breathing example of this right now.

[00:08:15]Watch this. Here's a New York City lesson for you, and timing matters because history is about to repeat itself. New York City kept its subway fare at a nickel for 44 years, from 1904 to 1948. So, instead of adjusting the fare, they deferred maintenance, skipped repairs, and starved the system of money year after year. And what happened next is the government stepped in and spent billions on what years of underfunding had destroyed. And today, you're still paying three dollars a ride for a subway that's unreliable. Look at that. So, our subway is like a bunch of government-regulated apartments with frozen rent because the subway fare was frozen. And what happened? The whole thing collapsed and imploded around us, and it's right back to where it was. The fares keep going up, the crime keeps going up, the system never seems to work. People can't seem to figure out why. Well, that's because it doesn't charge what it needs to charge to sustain itself. Therefore, it's always a disaster. That is going to be our housing market, and that's exactly the point that's being made right here, and it's frightening because we should be able to look at this and say, "Gee, this sounds LIKE WHAT THEY'RE TRYING TO DO OVER HERE." BUT NO, NOBODY WANTS TO see that. They want the subway to be free, too, by the way. Yeah, nobody likes to pay attention to history, but history repeats itself unless we learn the lessons. All right, so what's happening in New York makes me feel more at peace with my rent increase here in Los Angeles, and I'm grateful that I live in LA and not in New York. Please like and subscribe so you don't miss any future videos from me, Aurora Winter at Strategic Basics. I will see you on the next video.