This week, RXR Chairman and CEO, Scott Rechler, joined CNBC’s “Squawk Box” to discuss the state of the housing market, tackling housing affordability, and his thoughts on Mayor Zohran Mamdani a month into his term.
Scott Rechler on housing affordability:
“I think the real issue is supply. There’s a supply gap of between four and seven million homes in this country. The only way to create more affordability is to build more homes. One of the biggest challenges is access to capital. Regional banks are not lending to regional builders.”
Rechler on Mayor Mamdani’s first month:
“I think it’s a well-intentioned policy, but its execution was very poor…New York City’s success isn’t preordained, and you need to be acutely focused on the changing dynamics. If the streets aren’t clean and aren’t safe, people are going to worry.”
