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NYC Freezes Rents for 2M Residents
New York City just pulled off a historic move: freezing rent for over two million rent-stabilized tenants — the first time ever for both one- and two-year leases. Mayor Mamdani, who made rent freezes a cornerstone of his campaign, is hailing it as a win for residents. But landlords are furious, accusing the Mayor of stacking the Rent Guidelines Board to ensure the outcome — even prompting one appointee to resign over concerns the board’s decisions were predetermined. While experts say landlords can absorb the flat rents — their profits have surged over 50% since the 90s — this freeze is seen…
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