City’s mayor has consistently argued that rising housing costs have made it increasingly unaffordable
A New York City housing board has voted to freeze rent for approximately 1m apartments.
In a major victory for Zohran Mamdani, the mayor who campaigned on a pledge to freeze rent, the Rent Guidelines Board voted 7-1 on Thursday to freeze increases on one- and two-year leases. The decision will provide relief to tenants in more than 1m rent-stabilized apartments, representing over 40% of the city’s rental housing.
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This article was originally published by The Guardian and written by Maya Yang.
Read original article on The Guardian