NYC Pied-à-Terre Tax Sparks Warning
New York City's pied-à-terre tax and restrictive policies are creating a two-tiered housing market where luxury buyers remain active while affordability crises worsen for average residents. Brown Harris Stevens CEO Bess Freedman warns that current tax and rent regulations could have unintended negative consequences. She advocates for loosening zoning restrictions and incentivizing developers to build more housing as the most effective solution.
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NYC Pied-à-Terre Tax Sparks Warning
New York City's pied-à-terre tax and restrictive policies are creating a two-tiered housing market where luxury buyers remain active while affordability crises worsen for average residents. Brown Harris Stevens CEO Bess Freedman warns that current tax and rent regulations could have unintended negative consequences. She advocates for loosening zoning restrictions and incentivizing developers to build more housing as the most effective solution.
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