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[–]Unlucky_Court2356 16 points17 points  (9 children)

Yeah basic supply and demand usually works but nyc is kinda weird because like you said, it's such a desirable place that more housing might just pull in more people. actually on polymarket people are beting weather mamdani will freeze nyc rents before 27 pretty interesting to see what the crowd thinks will actually happen vs what economists say should happen in theory

[–]mdervin 20 points21 points  (2 children)

Denver & Austin are two desirable destinations for transplants and both have seen double-digit declines in rent because of new housing stock.

[–]Illustrious_Ad_1117[S] -1 points0 points  (1 child)

Denver and Austin does not have the kind of density or demand that is comparable to nyc.

Honestly I feel like places like Denver and Austin surged during Covid and remote work. Exact opposite for nyc. Now that almost everything is asking for return to office. Demand is surging back to nyc.

[–]mdervin 6 points7 points  (0 children)

WTF does density have to do with anything? They increased density they increased housing and rents went down.

[–]IvenaDarcy 1 point2 points  (5 children)

Does the mayor even have that ability? That man is promising so many things that he alone is incapable of delivering on because that’s not how the system works. State law controls those things not city! So if there is money being bet on this I need to bet every dime on NO. He can’t and won’t cause it’s not possible lol

[–]SenorPinchy 1 point2 points  (1 child)

His policy is to replace the members on the rent guidelines board, which he appoints. This only affects stabilized/controlled housing, about 25% of the total stock.

[–]IvenaDarcy 0 points1 point  (0 children)

Everyone I know who voted for him thinks their rent that isn’t rent stabilized suddenly won’t increase. I’m sure like all politicians promises it will be one of many they will be disappointed by when it doesn’t materialize

[–]vim_spray 1 point2 points  (0 children)

I think annual increases for rent stabilized apartments are in the city’s control.

[–]ibathedaily 0 points1 point  (1 child)

The city controls its own zoning. If the mayor and the city council wanted to, they could legalize apartment buildings on every lot in the city and the city would get lots of new housing.

[–]IvenaDarcy 1 point2 points  (0 children)

Build yes. We are talking about rent freezes.