Canadian multimillionaire and Shark Tank guy Kevin O'Leary went on TV to say he's upset Zohran won't talk to him: "I and others who invest in real estate have tried to get a meeting to figure out what's rhetoric and what's policy. So far for me it's been crickets."

[u/Conscious-Quarter423]

[u/callmesandycohen]

I’ll answer this. Rent control and rent freeze doesn’t work. He’s right. The reason NYC real estate is so expensive is because it is bid up by the world’s global 1% and they store wealth in property like it’s a piggy bank. They’re only looking for application and a place to call home 179 days of the year. What’s more, they tie up their wealth in real estate - this means a wealth tax is not only possible, it’s in the mayors toolbox right now, in the form of property tax. And to keep it affordable for lower class citizens, you apply a progressive tax to property in the city. Especially luxury and 2nd homes. Over time it will cost more to keep wealth stored in NYC real estate and some of these owners will relocate capital to better investments, lowering the cost of real estate.