New York City will freeze rent for 1m apartments in big victory for Mamdani

City’s mayor has consistently argued that rising housing costs have made it increasingly unaffordableA New York City housing board has voted to freeze rent for approximately 1m apartments.In a major victory for Zohran Mamdani, the mayor who campaigned on a pledge to freeze rent, the Rent Guidelines Board voted 7-1 on Thursday to freeze increases on one- and two-year leases. The decision will provide relief to tenants in more than 1m rent-stabilized apartments, representing over 40% of the city’s rental housing. Continue reading...