Why homeownership confuses housing policy in New York City
April 1, 2026
The Real Deal
At the dawn of Mayor Zohran Mamdani’s term, the City Council revived a housing bill that Eric Adams had vetoed in his final hours as mayor. The bill, which Adams thought was too expensive, sought to boost homeownership with mandated financial support. It got through the Council at a moment when rental apartments were hogging the limelight and renters had solidified as Mamdani’s base.
Yet the legislation, which will cost somewhere between 31.8 million (the City Council’s estimate) and 85 million (Adams’ figure) annually, won the day. Its success illustrated the long-simmering tension in New York between tenants and would-be []This article originally appeared on The Real Deal. Click here to read the full story.
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