Manhattan luxury real estate sales hold firm despite fears of a 'Mamdani effect'
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Summary
A month after the passage of a tax on second homes in New York City, brokers and analysts said sales of luxury real estate remain strong.
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I would argue it's worse precisely because prices aren't falling like 2008. A price crash would actually be the best thing for real estate agents and mortgage brokers as well as prospective buyers because it would generate a ton of transaction volume.
— TonyIsHere4You (@TonyIsHere4You) July 2, 2026