Rent Freezes and Building Seizures Are Poor Policy Despite Good Intentions
Source: Michael Powell. "What Mamdani Doesn’t Know About Tenants - The Atlantic." February 11, 2026. www.theatlantic.com
The Gist
The author argues that New York's new mayor is making promises about freezing rents and taking over bad buildings that sound good but will actually make housing problems worse. Based on his experience as a tenant organizer, he says these policies ignore the basic economics of keeping old apartment buildings running.
Conclusion
Mayor Mamdani's promises of rent freezes and city takeovers of neglected buildings make for good politics but poor public policy that will worsen affordable housing problems
Premises
- Rent-stabilized buildings are already only marginally profitable, with operating costs rising faster than rental revenues
- The 2019 rent law changes eliminated landlord incentives to rehabilitate apartments by severely limiting rent increases for improvements
- Code violations in rent-stabilized buildings have increased 47 percent in five years as managers cut back on maintenance due to economic pressures
- Even the city's own lawyers acknowledged that very low rents in problem buildings make them an 'unsupportable business' for clearing violations
- Many landlords of problem buildings are not wealthy slumlords but struggling small owners who invested life savings and cannot afford necessary repairs
- Tenant organizing requires making difficult decisions about evictions and building management that simple anti-landlord rhetoric cannot address
Assumptions
- Private market incentives are necessary for maintaining rental housing stock
- Economic viability of buildings is essential for proper maintenance and tenant welfare
- Complex housing problems require nuanced solutions rather than ideological approaches
- Past experience as a tenant organizer provides valid insights into current policy debates