The proposal is an attempt to seize momentum on one of the campaign’s top issues — the housing crisis — and could affect nearly one million homes, or about 40 percent of the city’s rental market.
It’s also part of a continuing attack on the front-runner in the race, Assemblyman Zohran Mamdani, who pays $2,300 a month for a rent-stabilized one-bedroom apartment in Astoria, Queens.
Subsidize what? Profit?
Rent control causes newer tenants (read: young people) to pay higher rates than older tenants ( old people) because the old tenants are shielded from market rates.
It’s a policy which enriches old people who never move at the expense of new renters.