The housing affordability crisis and efforts to deal with it have been going on for a long time.
Political economist Henry George wrote about this phenomenon in 1879 in his classic book Progress and Poverty. He recognized that increases in population and economic activity would increase the price of land, giving landholders a huge gain while making housing unduly expensive for working people.
George devised a plan to solve the problem. He proposed a land tax of sufficient size to transfer the profit generated by popular demand for a limited land supply from landlords to the public treasury.
In 1886, he ran as a candidate for mayor of New York City, a post in which he hoped to implement his plan. Unfortunately, he lost to the corrupt Tammany Hall candidate. Theodore Roosevelt, the future president, came in third.
It is not too late. We can still enact George's program and thereby provide needed housing while lowering general taxation.
I’m not close to the details but I recall Joe Borrelli agreeing partly with Mamdani’s calls to change how NYC property taxes are assessed. Borrelli seemed to agree the current system disfavors less wealthy outerborough residents in favor of wealthier neighborhoods such as Park Slope. Borrelli co-sponsored legislation to try and reform the current system & he also co-written an editorial in ~2022 with Brad Lander advocating for such reform. Thus I think your highlighting of Mamdani’s property tax advocacy may be too reactionary & not paint an accurate picture of Mamdani’s policy vision with respect to property tax assessment. Though I will acknowledge Mamdani often chooses identitarian based rhetoric when discussing property taxes assessment reform instead which seems unnecessarily inflammatory.
Which prediction about Miami real estate do you believe?
#1
"Miami has claimed the dubious title of having the highest real estate bubble risk in the world, according to a new report." https://www.dailymail.co.uk/real-estate/article-15130489/miami-highest-real-estate-bubble-index.html
#2
Headline: "DeSantis predicts Florida property values will ‘skyrocket’ if NYC Dem socialist nominee wins" https://www.foxnews.com/politics/desantis-predicts-florida-property-values-skyrocket-nyc-dem-socialist-nominee-wins
The housing affordability crisis and efforts to deal with it have been going on for a long time.
Political economist Henry George wrote about this phenomenon in 1879 in his classic book Progress and Poverty. He recognized that increases in population and economic activity would increase the price of land, giving landholders a huge gain while making housing unduly expensive for working people.
George devised a plan to solve the problem. He proposed a land tax of sufficient size to transfer the profit generated by popular demand for a limited land supply from landlords to the public treasury.
In 1886, he ran as a candidate for mayor of New York City, a post in which he hoped to implement his plan. Unfortunately, he lost to the corrupt Tammany Hall candidate. Theodore Roosevelt, the future president, came in third.
It is not too late. We can still enact George's program and thereby provide needed housing while lowering general taxation.
I’m not close to the details but I recall Joe Borrelli agreeing partly with Mamdani’s calls to change how NYC property taxes are assessed. Borrelli seemed to agree the current system disfavors less wealthy outerborough residents in favor of wealthier neighborhoods such as Park Slope. Borrelli co-sponsored legislation to try and reform the current system & he also co-written an editorial in ~2022 with Brad Lander advocating for such reform. Thus I think your highlighting of Mamdani’s property tax advocacy may be too reactionary & not paint an accurate picture of Mamdani’s policy vision with respect to property tax assessment. Though I will acknowledge Mamdani often chooses identitarian based rhetoric when discussing property taxes assessment reform instead which seems unnecessarily inflammatory.