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ew York City mayoral candidate Zohran Mamdani is sparking controversy with his ambitious plan to address the city's housing crisis. The Queens assemblyman aims to build 200,000 new affordable homes and immediately freeze rents for the city's 2.4 million stabilized tenants. This move has real estate developers and landlords on edge.

    Critics argue that a rent freeze would worsen existing problems in the rental market, including vacant units due to costly repairs. They claim that without the ability to raise rents, landlords won't be able to afford necessary maintenance. Mamdani's proposal acknowledges the $100 billion price tag over 10 years, which he plans to cover with steeper taxes on wealthy New Yorkers and a higher corporate tax rate.

    Despite the backlash from the real estate industry, Mamdani is gaining support among progressive and younger voters frustrated by rising costs. The median rent in New York City has reached $3,397, a nearly $200 increase since 2024. Tenant advocates argue that landlords can absorb the tax hikes and rent controls, pointing out that landlord profits have increased 12% in the last year while one in four New Yorkers struggle to afford basic needs.

    Mamdani's campaign focuses on making New York City more affordable for average residents. His proposals include multi-year rent freezes and massive investment in public housing. While critics see his plans as unrealistic, tenant advocates believe they are a necessary step towards addressing the city's housing crisis.