Zohran Mamdani: We Can ‘Gradually’ Buy Up Housing on the Private Market and Convert It to Community Ownership

MAMDANI: “Further, toward the Vienna model, we’ll have to go beyond the market. We can establish community land trusts to gradually buy up housing on the private market and convert it to community ownership. We can give tenants a right of first refusal to buy out their landlords when buildings go up for sale. And we can fully commit to a new era of social housing, ending subsidies for luxury housing development and using our wealth to build beautiful, high quality social housing projects that offer good homes and strong communities to everyone. We won’t decommodify housing overnight, but we know what we have to do and we have history to guide us.”