When Zohran Mamdani was running for mayor of New York City, he repeatedly talked about freezing the rent. Voters heard this and thought it meant that if Mamdani was mayor, their rent would go down.

That’s not how the real world works, but that’s what people heard. In a sense, they heard what they wanted to hear. Mamdani knew all of this but he kept talking about it anyway.

Now he has been in office for six months and rents in New York City just hit an all-time high.

The New York Post reports:

NYC housing crisis hits ‘DefCon 1’ as rents jump to more all-time highs

The city’s housing crisis has hit “DefCon 1” — with average rents for a one-bedroom in Manhattan hitting an all-time high of nearly $5,500 last month, and Brooklyn following suit, according to new data and critics.

“We need bold action. This is a crisis,’’ New York City Comptroller Mark Levine posted on X over the weekend, along with a link to the latest figures from the inhabit blog by real-estate giant Corcoran Group.

The dismal June stats reveal that renters paid an average of $5,408 for a one-bedroom in Manhattan, with studio prices not far behind at $4,014.

In Brooklyn, the average one-bedroom cost renters $4,297 a month.

As for the overall median rent for an apartment in Manhattan, it hit $5,295 last month, while those in Brooklyn shelled out a median $4,350 a month, or a roughly 8% increase for both boroughs year-over-year, according to the data focused on the two areas of the city.

It’s a simple issue of supply and demand.

From FOX News:

Manhattan’s and Brooklyn’s median rents reached $5,295 and $4,350, respectively, in June, according to an analysis conducted by the Corcoran Group, a real estate firm. The most recent available data shows roughly 38% of New Yorker residents were born outside the United States, and about 40% of rentals in the city are occupied by foreign-born individuals, though the data does not distinguish between legal and illegal immigration status.

“You declared yourself a sanctuary city. You ‘welcomed’ hundreds of thousands of illegals. Then you had to find places to put them,” conservative radio host Andrew Wilkow wrote on X, reacting to news of increased rents. “That put pressure on housing supply. Shortages create price increases. It’s pretty simple.”…

“Young Americans compete for housing with millions of foreign arrivals,” Rep. Brandon Gill, R-Texas, wrote on Monday in response to the rent data out of New York City.

The Mamdani people seem to think the city can just buy up all the real estate and then become one of the biggest landlords in the city.

That won’t work either. The city doesn’t have the money or the personnel to manage apartment buildings all over the city.

New Yorkers are going to learn a painful economic lesson on Mamdani’s watch.

The post New York City Rents Hit ALL-TIME HIGH Under Zohran Mamdani’s Watch appeared first on The Gateway Pundit.