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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The GOP is looking weak and very scared of Mamdani.

https://thehill.com/homenews/campaign/5408555-nrcc-targets-new-york-democrats/[/quote]

Mandani wants to revolutionize groceries with socialism because that worked so well in the USSR.  The GOP knows Mamdani's policies will be an unmitigated disaster, but the GOP is too cowed to actually fix the problem.  [/quote]

Mamdani wants socialized housing. How about stopping the invasion of America?[/quote]

Huh? He wants more housing for people. NYC has a severe housing shortage. Every candidate suggests that in some form. [/quote]

The housing shortage is because foreign rich billionaires are buying empty apartments in the city that aren’t even rentals. They just keep the homes for summer or business trips [/quote]

Huh?

The rich billionaires are buying the 30-100 million apartments on billionaires row.

They are not buying up the 900k basement apartments in 150 year old brownstones that people of middle class income can afford.

Also, his plans call for money to come from the rich residents in NYC who he can tax. Without their money, he has no funds for his programs.  Many of the billionaires will simple leave NYC like many have already, and the tax base will be decimated.  His programs will fail miserably without the money to pay for them.[/quote]

Great, you can be so smug if it happens.

It won’t, but maybe you’ll STFU in the meantime :)[/quote]

Wow,

You are so tolerant of any point of view not similar to yours?  Maybe your parents should have raised you better?

Yeah, normal people are not looking at 50 million  dollar apartments in Billionaire’s Row.

So I don’t really think these foreign rich investors are taking away the typical apartment in NYC, let alone the ones in the Bronx or Brooklyn.

[/quote]

Those $50M condos drive up the prices of all the modest 1BR apartments in the surrounding blocks.

Case in point: Carnegie House on West 57th

https://www.wsj.com/real-estate/carnegie-house-midtown-manhattan-billionaires-row-nyc-feb893dc

[/quote]

Well, to build all these new luxury towers older buildings (especially tenement like walkups) are getting razed eliminating supply or more affordable dumpy older apartments.  A lot of these new buildings get tax breaks in exchange for allocating a few apartments to lower income residents.  Of course these are lower floor wall facing undesirable units, and it's only a small percent of these units that gets brought up in place of many more razed old dumpy cheaper units.  The rest are for top 1-2% .  When the land gets this expensive you cannot make profit or maybe even break even building affordable units unless they are micro-units or something dorm like. Which may be is going to be the future in very HCOL cities soon enough. [/quote]

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