Zohran Mamdani: “In the 1990s, new rent stabilization loopholes incentivized…”

“Further bureaucratic changes only exacerbated how difficult it became to build. In the 1980s, the Reagan administration implemented drastic cuts to our public housing system, leading to decades of NYCHA's decline. In the 1990s, new rent stabilization loopholes incentivized landlords to increase rents and push New Yorkers out of their apartments. These choices restricted growth and caused costs to balloon. They allowed bad landlords to neglect their tenants with impunity, and they turned a blind eye to crumbling public housing.” (05:36–05:44)

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