The first thing I noticed about Mayor Zohran Mamdani’s housing plan, which he cleverly released while I was on vacation, was its $22 billion price tag. That was down from $100 billion during his mayoral campaign. Yet its goal remained 200,000 new affordable housing units, and he’d added the preservation of 200,000. Even $100 billion was an unrealistically low cost for 200,000 union-built, affordable homes — only $500,000 apiece. Obviously the city can’t build or preserve twice as many for $78 billion less. I set out to make sense of Mamdani’s math. One way he made the price tag seem […]

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