*Although some people hate to say “I told you so,” Jimmy McMillan doesn’t.
During an appearance Tuesday on HuffPost Live, The Rent is Too Damn High party leader reacted to a recent Harvard study finding significant increases in rental prices.
In McMillan’s eyes, President Barack Obama is the man responsible for high rent prices in New York.
“I appreciate the Harvard study, but it’s out of touch.” the politician told HuffPost Live, adding that the Wall Street banks and the Obama administration’s foreclosure policies directly affected rent in New York City.
“It created a domino effect across the country,” stated McMillan. “Once we fix it here, it’ll trickle a domino effect where you are.”
As one of the areas hit hardest by skyrocketing rent prices, New York City residents are feeling the weight of the cost of renting a place to live. In July, a REIS study in found that the average rent for most of America came up to about $1,000 per month. That number tripled n New York City as the average rent in that area rose to $3,017 per month.
In addition to McMillan, Bloomberg reporter Peter Coy, also appeared on HuffPost Live to weigh in on the issue. According to him, “market forces aren’t keeping up with demand” of the housing market.
Coy referenced the direct role of the banks for his reasoning while noting that foreclosed homes often end up being rented back to families who can no longer afford a mortgage.
“Everything is conspiring against poor families that need the most support,” he stated.
Although high rent prices were a major part of New York City’s Mayor-elect Bill de Blasio’s campaign, McMillan stated that he isn’t sure if the mayor elect can fix the rental crisis by himself.
For more of McMillan’s thoughts on high rent in New York City, click on the video below: