Latest / Turley Talks / Ep. 4027 Mamdani FREEZES NYC RENTS, Then THIS HAPPENED…

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Ep. 4027 Mamdani FREEZES NYC RENTS, Then THIS HAPPENED… · Turley Talks

• 0:00
  [SPEAKER_01]: The liberal globalist order is on its brink and awakening a new conservative age.
• 0:06
  [SPEAKER_01]: Dr. Steve Turley, join me every day as we discover answers to today's toughest challenges and explore the re-bondalization of conservative civilization.
• 0:18
  [SPEAKER_01]: This is Turley Talks.
• 0:21
  [SPEAKER_01]: Hey gang, it's me, Dr. Steve, coming to you once again from beautiful Hudson Valley in upstate New York, we're here for just a wonderful family vacation for the week.
• 0:32
  [SPEAKER_01]: If you've been with the channel for a while, you know, we were here at this exact location literally a year ago last year.
• 0:38
  [SPEAKER_01]: It's finally getting a bit sunny here, but what's happening just three hours south of me here in New York?
• 0:46
  [SPEAKER_01]: is anything but wonderful and sunny and I would argue it's actually probably the single most significant political story in the nation right now, but for reasons most people have yet to realize New York.
• 1:00
  [SPEAKER_00]: The independent rent guidelines work just froze the rent.
• 1:03
  [SPEAKER_00]: That means if you're one of the more than two million New Yorkers who lives in a rent stabilized apartment, your rent's gonna be frozen next year.
• 1:09
  [SPEAKER_01]: The New York City rent guidelines board just voted seven to one to freeze rents across nearly one million rent stabilized apartments in the city, zero percent increases for both one year and two year.
• 1:27
  [SPEAKER_01]: leases.
• 1:27
  [SPEAKER_01]: Now as I understand it, it's the first time ever in the board's history where they froze rent increases for two straight years.
• 1:37
  [SPEAKER_01]: Now you'll hardly be surprised to find out who controls this board and it's none other than the fun and only mayor Zoron Mamdoni.
• 1:47
  [SPEAKER_01]: The amazing Zoron, he appointed six of the nine members after taking office.
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  [SPEAKER_01]: The one dissenting vote came from a woman by the name of Christina Smith.
• 1:59
  [SPEAKER_01]: As I understand, she's the only landlord advocate on the board.
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  [SPEAKER_01]: Everyone else is very hostile to landlords.
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  [SPEAKER_01]: And she ended up resigning just the day after the vote, calling the whole process a predetermined political theater performance, driven by the campaign trail, not by data.
• 2:17
  [SPEAKER_01]: Because unfortunately for those clapping seals who just saw celebrating this move by
• 2:23
  [SPEAKER_01]: The economic reality that the rent freeze crowd doesn't want you to realize is absolutely horrific and it all centers on a single question.
• 2:31
  [SPEAKER_01]: Well, rents are frozen.
• 2:34
  [SPEAKER_01]: What remains unfrozen?
• 2:37
  [SPEAKER_01]: What remains unfrozen?
• 2:38
  [SPEAKER_01]: Well, things like property taxes and insurance and maintenance costs and utilities.
• 2:44
  [SPEAKER_01]: All these costs keep rising.
• 2:45
  [SPEAKER_01]: The rent guidelines boards own 2026 housing supply report.
• 2:49
  [SPEAKER_01]: If on the 57,000 rent stabilized apartments are already vacant, up 9,000 in a single year because landlords can't afford to renovate them and still comply with the law.
• 3:00
  [SPEAKER_01]: But it gets worse because half of the housing market is now officially frozen in place, all the demand has to be accommodated by the other half.
• 3:09
  [SPEAKER_01]: The half that operates according to market principles, which means that those rents are good to inordinately skyrocket.
• 3:16
  [SPEAKER_01]: The rent freeze does not lower rents for everyone.
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  [SPEAKER_01]: It doesn't lower rents for people who don't already have stabilized apartments.
• 3:24
  [SPEAKER_01]: It does, in fact, the exact opposite.
• 3:26
  [SPEAKER_01]: It drives up rents for everyone else.
• 3:28
  [SPEAKER_01]: That's the dirty little secret about rent control.
• 3:32
  [SPEAKER_01]: All rent control ultimately does is drive up the rent and ordinarily for all non-rent control apartments.
• 3:38
  [SPEAKER_01]: It traps current tenants and their units.
• 3:40
  [SPEAKER_01]: It destroys mobility.
• 3:42
  [SPEAKER_01]: It pushes landlords towards foreclosure, and it takes another 60,000 apartments effectively all the market, and who are the people that get hurt by this the most?
• 3:52
  [SPEAKER_01]: It's the working class New Yorker, the very ones who are stuck in between stabilizing units on the one hand, and rising rents on the other.
• 4:00
  [SPEAKER_01]: And we're already seeing the disastrous effects of this economic insanity.
• 4:04
  [SPEAKER_01]: Google Co-founder Sergei Brand, the world's third richest man.
• 4:09
  [SPEAKER_01]: just took a staggering loss in the New York City's rent stabilized real estate market and it's a direct indictment of the policies of Mayor Mamedani that he's now doubling down on.
• 4:20
  [SPEAKER_01]: So Britain's investment firm, which is amphitheater LLC, they held a stake in a real estate fund, managed by any real estate.
• 4:29
  [SPEAKER_01]: They control nearly like 6,000 rent stabilized apartments across the city.
• 4:36
  [SPEAKER_01]: After Mamdoni, one election on a rent-free's platform, Britain sold his steak back to A&E, accepting just six cents on the dollar of his original equity investment just to get out.
• 4:49
  [SPEAKER_01]: His gross steak was valued at approximately $79 million, meaning that the loss was absolutely huge.
• 4:56
  [SPEAKER_01]: But the problems this isn't an isolated story.
• 4:59
  [SPEAKER_01]: Since 2019, the total value of rent stabilized apartment buildings in New York City has declined by an estimated $75 billion.
• 5:09
  [SPEAKER_01]: It's a 34% collapse in per unit sales prices.
• 5:13
  [SPEAKER_01]: While non-regulated apartments rose 23% over the same period.
• 5:18
  [SPEAKER_01]: The FDIC sold $15 billion in loans backed by rent stabilized buildings at a 40% discount.
• 5:26
  [SPEAKER_01]: Landlords across the city are now telling brokers.
• 5:29
  [SPEAKER_01]: They want to walk away from their buildings entirely.
• 5:33
  [SPEAKER_01]: And he spokesperson delivered the bottom line.
• 5:36
  [SPEAKER_01]: He said something akin to institutional capital.
• 5:40
  [SPEAKER_01]: Both equity investors and lenders are literally fleeing New York City's Brent Stabilized Department sector in droves.
• 5:55
  [SPEAKER_01]: But a $75 billion capital flight that will leave buildings crumbling and tenets with nowhere left to go.
• 6:04
  [SPEAKER_01]: But the damage and the devastation go way beyond just a single city.
• 6:10
  [SPEAKER_01]: What if I told you that Mandon he was actually leading something far more significant than just rank control?
• 6:17
  [SPEAKER_01]: What if he was actually busy trying to completely dismantle the entire
• 6:23
  [SPEAKER_01]: country itself.
• 6:25
  [SPEAKER_01]: That's exactly what we're about to find out.
• 6:28
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• 6:53
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• 6:55
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• 6:59
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• 7:01
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• 7:07
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• 7:10
  [SPEAKER_01]: So for example, here's a story that's barely getting any traction
• 7:14
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• 7:15
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• 7:33
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• 7:37
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• 8:00
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• 8:02
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• 8:05
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• 8:08
  [SPEAKER_01]: The media keeps calling him a socialist.
• 8:11
  [SPEAKER_01]: Some on the right call him, you know, an islamist sympathize in a life.
• 8:15
  [SPEAKER_01]: And yes, both of those labels are,
• 8:18
  [SPEAKER_01]: true, they have merit, but the more accurate and far-reaching ideology that Mamedani has ascribed allegiance to, something more dire, something more menacing, it's called third worldism.
• 8:33
  [SPEAKER_01]: Now, third worldism is a post-colonial political ideology.
• 8:36
  [SPEAKER_01]: It was actually born in the Algerian revolution in the 1950s, at 60s, forged by thinkers like France, Phanon, and given intellectual cover by Jean-Paul Sardt.
• 8:47
  [SPEAKER_01]: And its central claim is as simple as it is fanatical.
• 8:51
  [SPEAKER_01]: The world is divided into oppressors and oppressed, and it is less than civilization that represents the chief oppressing evil on the planet.
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  [SPEAKER_01]: The West is the eternal colonizer and any force that resists the West is by definition morally righteous and politically virtuous.
• 9:13
  [SPEAKER_01]: And this is King.
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  [SPEAKER_01]: any and all tactics that the third world employs to overthrow the first world west's oppression is justified anything violence terror even the Hamas attacks on October 7th.
• 9:29
  [SPEAKER_01]: All of it is not only just justified it is actually morally mandate.
• 9:34
  [SPEAKER_01]: So this isn't just mere political policy, this isn't, this is a moral creed, and that's what makes it so dangerous.
• 9:42
  [SPEAKER_01]: Zineb Rabua of the Hudson Institute says it best.
• 9:47
  [SPEAKER_01]: In Mamedoni's politics, the landlord morphs into a colonizer.
• 9:52
  [SPEAKER_01]: The tenant morphs into the colonize.
• 9:54
  [SPEAKER_01]: The New York City Police Department becomes the occupier.
• 9:58
  [SPEAKER_01]: All right, Palestine is the centerpiece of the global moral uprising in Israel's cast as the last fortress of Western imperialism.
• 10:08
  [SPEAKER_01]: And Islam in this framing, Islam isn't about faith, it's a badge of resistance against the West.
• 10:16
  [SPEAKER_01]: This is why Mamedani can freeze rents one week and rally for a full arms embargo on Israel, the next.
• 10:24
  [SPEAKER_01]: It's all the same ideology, it's the same war.
• 10:28
  [SPEAKER_01]: just falling on different front lines.
• 10:30
  [SPEAKER_01]: Housing is a colonial metaphor, policing is occupation, and America itself is the empire that must be dismantled from within.
• 10:42
  [SPEAKER_01]: Mamedani did not come to New York City to fix the subway.
• 10:47
  [SPEAKER_01]: He came to remake America in the image of a post-colonial revolution, and it's working.
• 10:54
  [SPEAKER_01]: You may have seen this, but yesterday in Colorado and their first congressional district, the Denver Sea, 29-year-old Melott Curals, a radical leftist Democrat socialist, just unseated, Diana de Gettie, a 15-term incumbent, whose held that seats since 1997, and to get yourself
• 11:16
  [SPEAKER_01]: was a member of the progressive caucus.
• 11:19
  [SPEAKER_01]: She supported Medicare for all.
• 11:21
  [SPEAKER_01]: She supported the abolition vice, but that wasn't left enough for these people.
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  [SPEAKER_01]: Keros was endorsed by Bernie Sanders.
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  [SPEAKER_01]: She used the daughter of Ethiopian immigrants.
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  [SPEAKER_01]: She's called for a full arms embargo on Israel, of course.
• 11:38
  [SPEAKER_01]: Even blocking defensive weapons and her campaign explicitly mirrored
• 11:44
  [SPEAKER_01]: Mandani's playbook, right?
• 11:46
  [SPEAKER_01]: So viral social media grassroots organizing and third worldist mole framing that cast her opponent as part of an old regime that must be swept away.
• 11:59
  [SPEAKER_01]: And we talked about the New York primaries last week where we had three radical socialist third world as all winning their respective primary elections, holding Mandani's hand the entire way.
• 12:14
  [SPEAKER_01]: The good news in all of this is, and more and more election analysts are coming to this conclusion.
• 12:20
  [SPEAKER_01]: They're saying this is the greatest gift that the GOP could ever possibly get.
• 12:25
  [SPEAKER_01]: Even the Democrat strategist James Carval is saying, this is a political disaster for the Democrats.
• 12:32
  [SPEAKER_01]: And that's because third worldism is political poison outside of the handful of deep blue urban enclaves.
• 12:42
  [SPEAKER_01]: The ideology that animates Mandoni and Curals, you know, this anti-Western anti-Israel pro-Marxist redistribution wrapped in the colonial moral language, it plays extraordinarily well in Brooklyn or in Denver or in San Francisco, Portland, few college towns, but plays nowhere else, it doesn't play in Ohio, it don't play in Pennsylvania, don't play in Wisconsin,
• 13:11
  [SPEAKER_01]: don't play in Michigan or Arizona, Nevada.
• 13:15
  [SPEAKER_01]: And a party that is actively purging its moderates in favor of anti-American third world zealots is a party that is lurching toward electoral disaster in swing districts.
• 13:28
  [SPEAKER_01]: So the GOP's job right now is simply let them do it.
• 13:31
  [SPEAKER_01]: Let them run, let them run in every swing district that they can reach, but the American people
• 13:41
  [SPEAKER_01]: don't muddy the message, right?
• 13:43
  [SPEAKER_01]: Don't get embattled into cultural warside as just let the contrast speak for itself.
• 13:51
  [SPEAKER_01]: And the pro-America Party, the party of border security, economic security and cultural security, will literally win every single time.
• 14:03
  [SPEAKER_01]: So what do you guys think?
• 14:03
  [SPEAKER_01]: Let me know in the comments section down below.
• 14:05
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• 14:09
  [SPEAKER_01]: You're not going to get anywhere else.
• 14:10
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• 14:11
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• 14:12
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