Mamdani’s rent freeze threatens everyone who owns anything
Tenants' groups and leftwing activists are cheering New York City's newly announced multiyear rent freeze. But Mayor Zohran Mamdani's rent scheme is headed for a judicial smackdown at the U.S. Supreme Court. In 2023 and twice in 2024, a hesitant Supreme Court declined to hear challenges by building owners to New York state's rent regulations. Lower courts had ruled that the regulations diminished the value of rental properties, but the state had good reasons to balance the rights of owners with the need to protect tenants. At that time, Justice Clarence Thomas said the ...