From Fox Business: Real estate experts are sounding the alarm over what could happen to New York City townhouse owners if mayoral candidate Zohran Mamdani wins the election.
The self-described “Democratic socialist” has taken the city by storm with a housing platform that includes a rent freeze and higher taxes on top earners. The so-called “Mamdani Effect” has rippled through the city since his campaign began, with Manhattan’s suburban housing markets seeing a surge in demand.
“Everybody is gearing up for sellers of townhouses, in particular,” Dolly Lenz, CEO of Dolly Lenz Real Estate, said Tuesday on “The Claman Countdown.” “Imagine you own a townhouse in New York. … He says he’s going to reduce police. You don’t want to be in a townhouse. You want to be in a doorman building, right? So that is a problem.”
Jenny Lenz, managing director at Dolly Lenz Real Estate, explained that consumers are “a little hesitant right now” and opting to rent instead of buy while waiting to see what’s next.
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In June, a 2021 video resurfaced in which Mamdani suggested, “”We will slowly buy up the housing on the private market and convert properties into communes.”
The instructional video, titled, “How Socialists Solved The Housing Crisis,” was posted on YouTube by the far-left Gravel Institute.
Wearing an Islamic throbe, Mamdani paints a smooth, glowing portrait of socialism, where American society would move from people purchasing their own homes, to one where “high-quality” housing is provided by the government as a “human right.”
Zohran Mamdani: “We will slowly buy up the housing on the private market and convert properties into communes” pic.twitter.com/u7RQxaERYt
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