JW Mason on affordable housing in Mamdani's NYC

'The great majority of residential buildings have rental income well above their operating costs, and they could be profitably operated even with rents much lower than today’s. So in principle, there is space for the RGB not just to freeze the rent, but to roll back regulated rents by some significant percent. The big obstacle to a mandated rent reduction is not the real costs of providing housing, but the financial commitments inherited from the past'

#affordableHousing #nyc #rentFreeze #mamdani #humaneEconomics

https://www.phenomenalworld.org/analysis/after-the-rent-freeze/