NYC Pied-à-Terre Tax Sparks Warning

Bess Freedman, CEO of Brown Harris Stevens, stated that New York's pied-à-terre tax and rent policies risk reducing housing supply and investment in the city. Freedman told Bloomberg that the housing market is experiencing divergence between luxury and affordable segments. She argued that loosening zoning restrictions and incentivizing residential development would address housing shortages more effectively than tax increases.

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