A candidate for mayor in New York City has been promising rent control This is a promise that may well punish those who vote for him.

I retired as a dues paying union Carpenter. Therefore, I get a magazine from the North Central States Regional Council of Carpenters. St Paul had a rent control process. On November 2nd, 2021, St Paul voters approved a rent stabilization ordinance with 53% support. After the 3% rent cap ordinance took effect in 2022, construction of new market rate rental property declined abruptly. The number of new units fell from 821 in 2023 only to 112 built in 2024. The city's previous decade long annual average was 1014 units per year. This represents a dramatic collapse.

In May of this year, the St Paul City Council voted 4 -3 to permanently exempt all buildings built after 2004 from rent control. St Paul has a damaged reputation to rebuild. Developers and investors have already moved on. Even though the policy is gone, construction is not likely to take up to previous levels very rapidly. They are likely to wait it out and see if someone new will turn the balance of power on its head. They will be suspicious that the philosophy, that got them rent control, will return to the majority.

Now, the folks that sold their vote for a promise are finding it difficult to rent. They may live in a complex that is slow to make improvements or repairs. This lowers their quality of life and they are paying for it.

The same will happen to New York City. Beyond that, Mamdani has been called a communist. Communism is the antithesis of capitalism. Capitalism harnesses the natural tendencies for human beings. People respond to rewards. People that have a better idea or a less expensive way to do things are rewarded. A case in point would be cell phones. Everybody's got one. And, they are all different makes. They are all different prices. They do many different things for different people's needs. Another example might be in the supermarket. Just as there are multiple brands of ketchup, there are multiple brands of green beans and peas. Again, there are different prices.

In a socialistic society, there is much sameness because whomever is at the top will give his blessing to only one brand. And, there will be no consideration for a less expensive brand. Or, there may be no brand at all due to shortage because there is no competition. Freedom lost.