NY Candidates for Mayor Hurt Housing

This is not a political podcast. It’s a real estate podcast. Now NYC is an important market for real estate. I personally don’t invest in NYC for reasons that many will understand.

Part of the affordability problem is that NYC’s population is made up of 25% low income families. As housing demand has increased, so too have rents. Affordable rents get pushed further and further away which increases commute times.

The race for Mayor in NYC is a hotly contested one with an incredible array of candidates. When I say incredible, it’s because each of these candidates can bring sweeping impacts to this city of 8.5M people. If people flock to NY, or if they leave NY, it affects other markets in a material way.

There are seven candidates on the democratic ticket for Mayor. The incumbent Mayor Adams who is under criminal investigation is running as an independent. There is one republican candidate. The Democratic primary is going to be held on June 24 which could reshape the election.

On today’s show we are going to look at the top 3 candidates according to the polling results and dissect their real estate platforms.

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