The democratic socialist leading the race to become the next mayor of the country’s largest city wants to freeze rents for more than 2 million New Yorkers, saving tenants up to $6.8 billion.
The move — which could last up to four years — would represent one of the boldest efforts in the country to tackle the affordable housing crisis. If it’s successful, Democrats across the country will likely look to New York for inspiration as they seek novel ways to address pocketbook issues for their struggling constituents.
But implementing the bold plan is a risky endeavor that could run into thorny economic challenges…