New York City Mayor Zohran Mamdani’s push* for a “pied-a-terre tax” on the sparsely used homes of putative plutocrats is not staying in NYC. At least one legislator from the northern Hudson Valley exurbs is seeking allowance for a similar punitive levy on such properties there. That shouldn’t be surprising: Resentments toward wealthy seasonal visitorsContinue reading “Socialist Mayor’s Surtax: An Idea for Hamptons-Like Homes?”
Tag Archives: Realtors
Another Supply Factor in Home Sales: Who Can Broker the Deal?
America’s latest bout of realty mania may finally be dying down, as home prices and particularly sales volumes decline after a rise of interest rates. With mortgage payments more costly, and expectations of equity appreciation diminishing, the fees charged by brokers may become a rub again. Five percent off the top, a typical full transactionContinue reading “Another Supply Factor in Home Sales: Who Can Broker the Deal?”
Tim W. Ferguson 