In the recent NYC mayoral primary election, affordability led many voters' choices, with candidate Zohran Mamdani advocating for significant changes such as rent freezes for stabilized units, free public transport, and city-run grocery stores. As Mamdani moves closer to winning against Andrew Cuomo, reactions vary. While some celebrate potential reforms, critics argue that his proposals could adversely affect economic stability, warning that freezing rents may jeopardize property maintenance and lead to higher costs for residents if businesses increase prices to offset taxation.
Mamdani, a 33-year-old three-term state assemblyman, is inching closer to seeing his vision come to fruition after he and fellow front-runner former Gov. Andrew Cuomo conceded the race to him late Tuesday.
But overall, ultimately, they are stuck with rising costs if businesses have to raise their prices because of rising costs, Wylde told CNN.
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