Politics
New York
New York freezes rents on a million apartments, handing Mamdani his signature win
New York City's Rent Guidelines Board voted 7-1 on June 25 to freeze rents on about one million rent-stabilised apartments for leases starting October 2026, fulfilling Mayor Zohran Mamdani's signature campaign pledge. The first-ever freeze on two-year leases was cheered by tenant advocates and condemned by landlords, who warn of decaying buildings and are expected to sue. The vote resonates far beyond New York, in cities such as Luxembourg where housing affordability dominates politics.