It's Election Day in North Carolina and Texas. Here's What to Watch
Here's What Someone Should've Said to Thom Tillis During His Kristi Noem Meltdown
Top Dem Was Asked About Nancy Pelosi's Past Remarks About Unilateral Bombings...and It...
OpenAI Adds Surveillance Ban in Deal With Pentagon
Guess How Many Iranian Targets the US and Israel Hit Within 72 Hours
'Diversity' Is a Formula for Failure
Another Somali Fraudster Just Pleaded Guilty to Stealing $6M in Autism Center Scheme
Trump, Forever Wars and Iraq Syndrome
Outrage Erupts Over Kentucky Gun Store's Opening, Now Do Mosques
Don't Let Congress Ruin College Sports
Megyn Kelly Claims US Troops Who Died in Operation Epic Fury Died for...
Roy Cooper and Mark Whatley Advance to Highly-Contested Senate Race in North Carolina
The Department of War Has Released the Identities of Four of the Heroes...
CIA-Backed Kurdish Militias Will Launch Ground Campaign in Iran Soon
Iran Has Reportedly Chosen Their Next Supreme Leader, but He Might Already Be...
Tipsheet

Cea Weaver Describes Rent-Control As a Way to Cripple the Real Estate Market

Cea Weaver Describes Rent-Control As a Way to Cripple the Real Estate Market
Michael Appleton/Mayoral Photography Office via AP

A resurfaced clip of Cea Weaver, Zohran Mamdani’s Director of the NYC Mayor’s Office to Protect Tenants, is going viral after she praised rent control as a tool to “directly challenge the logic of unfettered profit” in real estate, boasting that it “weakens the speculative value of the asset.”

Advertisement

“We decided that fighting for rent control was a strategic and critical first step in the fight for full social housing,” she said in the clip. “A lot of times, people ask, ‘Why are we fighting for rent control when we have NYCHA? We should be fighting to save public housing.'”

“We decided that through a program like rent control, we are able to directly challenge the logic of unfettered profit in the real estate market,” she continued. "We are able to directly challenge housing as a wealth-building tool and, through regulation, strike a blow to the entire real estate industry at once."

The beauty of rent stabilization and rent control is that it weakens the speculative value of the real estate asset. 

The value is no longer based on what the landlord is able to get, but rather it’s based on a state public board deciding how much rent is going up.

"And yes, that board is controlled by the real estate industry, and yes, there could be a better way to regulate it," she said. "But the idea is that we could weaken the entire industry at once through a strong rent control campaign, and that would strengthen our ability to fight for social housing.”

Advertisement

It’s unclear when or where the clip first surfaced.

Some critics pondered why on Earth any voter in their right mind would support devaluing the real estate market. “How many New Yorkers (or Americans for that matter) want to support policies that weaken the speculative value of real estate?” one person wrote.

“No one with two brain cells to rub together is going to invest in properties that lose money and have them just be taken over by the state. It’s a lose/lose/LOSE scenario,” another said.

Advertisement

Weaver has courted significant controversy since joining Mamdani’s socialist administration, fueled by resurfaced posts in which she condemned homeownership as a “weapon of white supremacy,” praised the government’s “sacred right to seize private property,” and called to “impoverish the white middle class.” 

Despite the backlash, Mamdani and his socialist allies have continued to stand by the Director of the NYC Mayor’s Office to Protect Tenants.

Editor’s Note: Mayor Zohran Mamdani’s socialist takeover of New York City has begun.

Help us continue to report on his radical communist views and expose the Democrats who support him. Join Townhall VIP and use promo code FIGHT to receive 60% off your membership.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement