Snapshot · The Ben Shapiro Show
A New York City Rent Guidelines Board voted 7-1 to freeze rents on nearly 1 million rent-stabilized apartments — over 40% of all apartments across the five boroughs.
Where this was said
At 41:50 · chapter starts 41:30
The NYC Rent Guidelines Board's 7-1 vote to freeze rents on nearly a million stabilized apartments — covering more than 40% of the city's housing stock — gives Shapiro a classic economics lesson opportunity. Citing H.L. Mencken's quip about democracy giving people what they want 'good and hard,' he argues that rent freezes kill new development by violating property rights and eliminating the economic incentive to build. When maintenance costs exceed rent income, you get what happened in the Bronx in the 1970s: landlords burning down buildings for the insurance money. The freeze applies to leases beginning October 1st and Shapiro predicts it will raise rents for the more than half of the city not covered by stabilization.
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