Florida Republican Senator Rick Scott says he agrees with New York City Mayor Zohran Mamdani that rising housing costs are a serious concern, but disagrees with Mamdani’s approach to addressing the issue.  Mamdani is an idiot.

     Scott (R- Fla.) addressed the nation’s homeownership crisis as part of his “Rescuing America” video series Tuesday. While he agreed with Mamdani’s assessment of housing affordability, the Florida lawmaker criticized the mayor’s policy approach. “Housing is completely unaffordable. But, his [Mamdani’s] socialist polices are not the answer. Socialism never is,” Scott said. He argued that the housing affordability crisis does not demonstrate a failure of the free market, but rather reflects the impact of government policies and regulations that have contributed to higher housing costs.

     “The U.S. housing market has reached its lowest affordability level in history. The government has inserted themselves so far into the housing market that even a starter home is nearly impossible to afford,” he noted.  The Florida senator credited President Trump with working to reduce regulations, but contented that Congress also needs to act. He pointed to government spending as another factor, arguing that excessive federal spending is contributing to the financial pressures facing Americans.  

     Congress recently took action on housing affordability. The bipartisan 21st Century ROAD to Housing Act became law in July after passing both chambers of the legislative branch. Among its provisions are restrictions on certain large institutional investors purchasing single-family homes, along with measures intended to increase housing supply and reduce regulatory barriers. 

     Mortgage rates remain another challenge for prospective buyers. The average 30-year fixed rate mortgage was 6.95% as of September 17th, up from 6.76% the previous week, according to Freddie Mac (the Federal Home Loan Mortgage Corporation).  Nonetheless, Scott reflected on his time as governor of Florida, pointing to policies his administration implemented that he says helped increase home construction to balance the level of supply and demand.