Sure, they believed in the enduring appeal of New York and dutifully recited the mantra about how resilient the real-estate market was and how it had weathered any number of crises (9/11, the 2008 recession, COVID, the mansion tax) only to emerge stronger than ever. But they'd also seen clients depart or downsize to pieds-à-terreafter the pandemic and were terrified that Mamdani's win would make others do the same.
While the ambition is admirable, the cost estimates reportedly exceeding $7bn annually rest on optimistic assumptions about eliminating waste and raising revenue through new taxes, De Blasio apparently said of Mamdani's plans to the UK newspaper the Times, in an article published on Tuesday. In my view, the math doesn't hold up under scrutiny, and the political hurdles are substantial.
Voters in the eastern city of Frankfurt an der Oder have cast their ballots in a run-off election that could give the far-right Alternative for Germany (AfD) party, the largest opposition party in parliament, its first mayoral victory in a German city. Independent candidate Axel Strasser and AfD contender Wilko Moller faced off on Sunday after leading the first-round vote on September 21, with Strasser receiving 32.4 percent of the vote and Moller 30.2 percent.
Netanyahu labeled Mamdani's proposed policies as nonsense, suggesting he would likely serve one term if elected in November, and criticized calls to defund the police.
