i hate to say it but a 1% tax on property over $5m you don’t live in is hard to argue against for the average voter
like, the solution is simply “actually live in NYC”, “what are you so broke you can’t afford 1%?”, and “well you could just leave NYC”
all are ego hits none of these property owners don’t wanna take and have a hard time refuting
love or hate him, he’s actually doing something vs most mayors and tells you in the slickest way possible
@theficouple Its opportunity cost analysis: You get to write off interest so if you are early on mortgage your effect cost is probably just below 4%. If can do better investing than that , don’t pay it off.
Let’s say you had $132,000 in the bank.
But you also have a $132,000 mortgage at 4.8%.
Would you invest the money in the stock market or pay off the house?
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