Lefties want more poison to cure NYC housing crisis they caused

By law, stabilized-rent hikes are supposed to reflect economic reality -- and Zohran Mamdani means to ignore not just the laws of economic, but the actual statute, writes the Post Editorial Board. Stephen Yang for the NY Post

You think New York has an affordability crisis now? Beware: A housing emergency you don’t hear about — driven entirely by lefty legislators — endangers the city’s stock of rent-stabilized apartments.

Buildings that host over 600,000 rent-stabilized units — with both private and non-profit owners — are on the verge of mortgage default.

Mass foreclosure, of the sort New York last experienced in the 1970s, would crater the market, endangering these buildings and their already-vulnerable tenants.

The New York Housing Conference, which represents not-for-profit, pu