There is no arguing that many people around the US and the world are experiencing rent hikes that they simply cannot afford. Housing costs have soared in so many parts fueled by a global inflation surge that thankfully came down notably by the end of 2024 from high's over 9%. Insurance, staffing, maintenance, replacement, repairs, etc costs soared through this period. 

A mayoral candidate in New York City has highlighted one of the #1 concerns of most New Yorkers. The rising cost of housing. By doing so he has also (maybe unwittingly) highlighted how New York with some of the most comprehensive rent controls and regulation for decades (yes, including rent freezes), has failed to deliver affordable housing. Sadly the exact opposite is true. Housing in New York is even more expensive because of it.

Freezing rent is a temporary fix at best. It's a disastrous policy that is certain to disincentivize building more at worst. There is only one real solution to the high cost of anything. Supply has to grow. 95% of economists polled agree, a message broadcast by Paul Krugman, an ex New York Times columnist and a rather liberal economist.

Anyone who promises freebies and rent freezes around housing is not serious. Without extensive, collaborative efforts to build more (much more), housing will remain expensive and even more so. Yes, a few people will get a break but it will be temporary at best. Freezes and controls that slow or stop construction have failed everywhere. Building lots works, just ask Austin Texas. No one can afford to experiment with experiments that have already failed repeatedly.

Yes, housing affordability is probably the single biggest driver of inflation too. It's a serious and urgent issue. No one should belittle the impact this has on the quality of life (or mere existence) of so many. Serious problems require serious solutions, not vote buying fantasy promises that only serve a few people at the expense of everyone else (the majority).