Mamdani’s nonprofit takeover of New York housing

New York’s socialist mayor, Zohran Mamdani, promises to spend $22 billion over the next five years building 200,000 new “affordable” homes and “preserving” another 200,000.

Time will tell if he meets that goal even as he sets higher minimum wages for construction workers.

But an even larger transfer of wealth is embedded in the mayor’s […] ...