{"id":5604,"date":"2025-10-16T22:35:07","date_gmt":"2025-10-16T22:35:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/5604\/"},"modified":"2025-10-16T22:35:07","modified_gmt":"2025-10-16T22:35:07","slug":"how-a-mamdani-mayorship-could-shake-up-new-yorks-mortgage-and-housing-sectors","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/5604\/","title":{"rendered":"How a Mamdani mayorship could shake up New York\u2019s mortgage and housing sectors"},"content":{"rendered":"

\"\"<\/p>\n

\u201cFor real estate values, I\u2019m worried about over-taxation on those that are contributing a lot to the city\u2019s coffers,\u201d he told Mortgage Professional America. \u201cOn the high end, if there\u2019s a negative tax consequence for those highest earners, then that might cause an exodus.<\/p>\n

\u201cOn mid- to lower-priced properties, everybody\u2019s going to be staying put because they kind of have to. This is where they cash their paychecks. In terms of going to other nearby areas \u2013 Long Island, upstate New Jersey, commutable neighborhoods \u2013 none of them are a reasonable tax haven in comparison.\u201d<\/p>\n

Mamdani\u2019s plans would likely face major roadblocks if he\u2019s elected \u2013 not least from President Trump, who\u2019s labeled him a \u201ccommunist\u201d<\/a> and threatened to send National Guard troops to New York if he wins.<\/p>\n

But the impact of a Mamdani win on the mortgage market, according to Leibowitz, would be minimal. \u201cOn the mortgage side, I don\u2019t think there will be any issues,\u201d he said. \u201cWe\u2019ve got a nationwide mortgage system that\u2019s very robust irrespective of where we are and the neighborhoods that we serve.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cFor real estate values, I\u2019m worried about over-taxation on those that are contributing a lot to the city\u2019s…\n","protected":false},"author":2,"featured_media":5605,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[5310,9,24,55,54,56,82],"class_list":{"0":"post-5604","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-housing-market","9":"tag-new-york","10":"tag-new-york-city","11":"tag-new-york-city-headlines","12":"tag-new-york-city-news","13":"tag-ny","14":"tag-zohran-mamdani"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/5604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=5604"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/5604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/5605"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=5604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=5604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=5604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}