It is caused by scarcity, regulation, cost pressure, and a political class that thinks slogans can repeal economics.
Mamdani talks like every collectivist before him: freeze rents, mandate wages, control outcomes, punish owners, and pretend consequences will not follow. But cities run on supply chains, maintenance costs, labor costs, taxes, energy, risk, and price signals. Ignore those signals long enough, and scarcity becomes policy.
It was the same ideological speech that we hear every few decades and it always leads to the same place. Failure. [Michael Smith]
Good Night, Patriots!
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