Opinion

Mamdani’s $22 billion housing lunacy proposal will socialize the skyline

Rent control lowers supply and raises prices, yet the mayor's plan doubles down on the same failed policies

By Nicole Huyer , Annie Heim Fox News

Published June 8, 2026 5:00am EDT

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DeSantis proposes major property tax cuts, criticizes Mamdani housing plan

Florida Gov. Ron DeSantis discusses his proposal to cut property taxes, weighs in on New York City Mayor Zohran Mamdani’s housing plan and more on ‘Sunday Morning Futures.’

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The average one-bedroom apartment in Manhattan costs over $5,000 each month. It isn’t because of landlord greed — it's a policy failure.

On May 20, socialist Mayor Zohran Mamdani proposed a solution to New York’s housing crisis: "Block by Block: The Housing Plan for a New Era." The plan promises to build 200,000 "affordable" rent-controlled homes and preserve 200,000 existing units over the next decade, backed by a $22 billion five-year investment of taxpayer dollars.

The mayor’s plan is as equally expensive as it is ambitious, and if history is any guide, socializing the skyline is doomed to fail.

Housing unaffordability lies in federal policies that artificially increase housing demand, as well as in critical supply shortages. It’s exacerbated in blue metros like New York City that have burdensome regulations, high taxes, and rent-control policies in place.

WASHINGTON POST BLASTS RENT CONTROL AS 'FAILED POLICY' THAT LEAVES RENTERS 'WORSE OFF' THAN BEFORE

The definitive New York skyline highlights lower Manhattan and One World Trade Center behind the Statue of Liberty. (Gary Hershorn/Getty........

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