There are plenty of concerns by global real estate investors, however. And they related directly to the Democrats' insane and oppressive tax policies:
As Benjamin Franklin said: “In this world, nothing can be said to be certain, except death and taxes.” But when it comes to real estate (and nearly everything else) investors often do whatever they can to avoid high taxes.
So it’s not surprising that the tax landscape is a huge driving force for real estate investment.
...New York’s mansion tax [hits] purchases of $1 million or more [and] carry a tax of 1 percent, a fee paid by the buyer... That’s on top of a city property transfer tax of 1.425 percent on all deals worth $500,000 or more, and a state real estate transfer tax of 0.4 percent.
Mayor Bill de Blasio has proposed increasing the mansion tax threshold to $1.75 million — in recognition of the spike in median apartment prices since the law was implemented in 1989. But he also wants to raise the tax to 1.5 percent on deals worth $5 million or more.
Stunning: an avowed Marxist wants higher taxes on property. I'll alert the media.
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