Mayor de Blasio Comes Clean
In a recent interview with New York, Mayor de Blasio made some startling assertions about how the city should engage in real estate development. The mayor averred that, ideally, local government would exercise direct control over all construction plans–determining who gets to live in which apartments, and what the rent should be. De Blasio’s dream of government ownership of property is sheer statist fantasy; New York City has thrived because of capitalism, not in spite of it.
The Facts You Need to Know
Grand Concourse: The biggest expansion of housing for working people in New York City occurred when real estate development was only lightly regulated. Read more.
Perennial: Efforts to regulate the housing market go back decades, but the affordable-housing “crisis” never gets any better. Read more.
Wealth: Public housing has deprived millions of people of the opportunity to build equity in the private-housing market. Read more.
“[New Yorkers would] love to have a very, very powerful government, including a federal government, involved in directly addressing their day-to-day reality.”
The Past is Present
“The mayor appears addicted to blurting out preposterous, fantastic proposals, and then backing them up with faux-enthusiastic guff that only the most uncritical progressive could possibly swallow.”
And in other news...
“New York City is joining the great North American pursuit of Amazon, the Seattle-based company that is casting about for a new city to host its second headquarters, a deal that it says will bring more than $5 billion in investment and up to 50,000 jobs.”