Socialism will certainly destroy the free market of New York City real estate as we know it. Already during his campaign, Zohran Mamdani has uttered the Socialist battle cry — seizing the means of production, wealth, and ownership in society. In fact, he has already pledged to commandeer privately-owned apartment buildings as part of his plan to turn private property over to the government. This is a textbook ploy of Socialists. I cannot tell you how devastating this will be, not just for property owners and developers, but in the end this will not serve the renters well in any way, shape, or form. This will completely obliterate New York City.
Socialism throughout history has shown us firsthand that it saunters in with a smile, but progresses to a dark point quickly — ending with authoritarian governments and control over citizens, where free speech is obliterated and citizens are told where they can go, what they can do, and when they can do it. At its darkest points in history, Socialism has killed 100 million people throughout the world.
The Socialist playbook will extend far beyond real estate. Socialist Mamdani has also pledged to take over privately-owned grocery stores as well and turn them into government-run stores — a ploy which the world witnessed during the Cold War in the Soviet Union which did nothing to help citizens; in fact, many Soviets starved during the cold winters because of it. A Socialist takeover would create empty store shelves and breadlines wrapped around the corner, where New Yorkers will be forced to “take a number” to get their government slice of bread (or as was often the case in the Soviet Union, be forced to return on a different day to be served).
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