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Mamdani’s rent freeze, tax hikes a ‘one-two wealth destruction punch,’ economists warn

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Mamdani’s rent freeze, tax hikes a ‘one-two wealth destruction punch,’ economists warn

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New Yorkers could be facing a “one-two wealth destruction punch” if Mayor Zohran Mamdani’s rent freeze and tax hikes take effect, economists warn.

Mamdani’s housing plan, a campaign promise aimed at addressing affordability, includes an immediate freeze on roughly 2 million rent-stabilized apartments. Separately, his broader $127 billion budget agenda calls for higher taxes on wealthy residents and corporations, as well as a potential 9.5% property tax increase if state lawmakers decline to act.

In the nation’s largest city and a global financial center, the outcome of Mamdani’s proposals could shape not only the future of New York’s housing market, but also broader debates over regulation, taxation and urban policy.

New York City Mayor Zohran Mamdani placed affordability at the center of his campaign to lead the nation’s largest city. (Angelina Katsanis/AFP/Getty Images)

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Edward Pinto, senior fellow and co-director of the AEI Housing Center at the American Enterprise Institute, said capping rent increases while raising property taxes would pressure landlords from both directions, reducing revenue while increasing expenses.

“This would be a one-two wealth destruction punch,” Pinto told Fox News Digital. “The rent freeze would drive multifamily property values down and the increase in property taxes would drive both multifamily and single-family values down,” he said.

That, he warned, could ripple across the housing market, affecting not only landlords, but also homeowners whose property values are tied to broader market conditions. He also said the policies could discourage new housing construction and lead landlords to defer repairs and improvements.

“At the same time, the construction of new supply would contract, and property upkeep would diminish as repairs are deferred and improvements are not made,” Pinto said.

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Economists warn that Mamdani’s housing proposal will exacerbate affordability issues in the nation’s largest city. (Spencer Platt/Getty Images)

Expanding on that argument, E.J. Antoni, chief economist at the Heritage Foundation, said the risks extend beyond property values and could ultimately reduce the city’s housing supply.

“Economists — whether they are on the right or on the left — essentially are in universal agreement, that when the government implements price controls in the rental market, you end up with housing shortages,” Antoni told Fox News Digital.

“And not only do you end up with fewer housing units available, but the quality of those units consistently goes down as well,” he added.

Emily Hamilton, the director of the Urbanity Project at George Mason University’s Mercatus Center, echoed similar concerns with Mamdani’s housing policy platform.

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“It’s going to exacerbate the city’s housing quality problems that the current rent stabilization law is already exacerbating. A rent freeze would just make that worse, and ultimately will contribute to the reduction in the supply of rent-stabilized units,” she said.

Mamdani, who made lowering costs for New Yorkers a cornerstone of his campaign, has also proposed building 200,000 affordable rental units. Hamilton said that portion of the proposal could be more promising.

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With billions of dollars and millions of renters at stake, the outcome of Mamdani’s plan could shape New York City’s property landscape for years to come. (Spencer Platt/Getty Images)

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She explained that the passage of the 1961 Zoning Resolution made it difficult to add real estate in New York City, which contributed to an affordability problem and a push to regulate rents. 

“It’s regulation on top of regulation, rather than addressing the root cause of housing undersupply and just making it easier to build housing of all types at all price points,” Hamilton said.

Mamdani’s office did not reach out to Fox News Digital’s request for comment.

With billions of dollars and millions of renters at stake, the outcome of the debate could shape the city’s property landscape for years to come.

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Boston, MA

Boston ‘No Kings’ rally expected to draw 100,000; others planned across Mass.

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Boston ‘No Kings’ rally expected to draw 100,000; others planned across Mass.


“No Kings” rallies are scheduled in Boston and across Massachusetts on Saturday and are expected to draw large crowds, organizers said.

Organized by the ACLU of Massachusetts, Indivisible Mass Coalition, and Mass 50501, the event is a mass mobilization in protest of the Trump administration.

The No Kings theme was created by the 50501 Movement, a national movement made up of Americans who stand for democracy and against what they call the authoritarian actions of the Trump administration. The name 50501 stands for 50 states, 50 protests, one movement.

“The Trump administration is trying to shred the Constitution; the No Kings movement is an unequivocal statement that we, the people, will not let that happen. This will be the third global No Kings Day, and it’s not just about protesting what’s wrong—it’s about building something better. We intend to show our power, build our power, and power a democracy that advances freedom, equality, justice, and dignity for all,” organizers wrote.

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The rally, one of thousands scheduled across the country this weekend, is planned for the Boston Common from 2 to 4 p.m. More than 100,000 people are expected to attend Boston’s rally. Other events are scheduled in Pittsfield, Northampton, Lancaster, Worcester, Framingham, Methuen, Lexington, and towns in southeastern Massachusetts and the Cape. For a map of No Kings events near you, click here.

Speakers include elected officials Attorney General Andrea Campbell, Gov. Maura Healey, Sen. Ed Markey and Congresswoman Ayanna Pressley, and civic leaders Hessann Farooqi Marcelo Gomes Da Silva, Darlene Lombos, president of the Greater Boston Labor Council, Carol Rose, executive director of ACLU of Massachusetts, Jessica Tang, president of the American Federation of Teachers of Massachusetts, and others. It will be moderated by Rahsaan Hall, president and CEO of Urban League of Eastern Massachusetts.

There will also be performances by the Dropkick Murphys, Boston Area Brigade of Activist Musicians, BVOCAL Chorus, and Jimmy Tingle.

A previous No Kings rally in October drew massive crowds estimated in the tens of thousands.

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An aerial view of the crowd at Boston’s “No Kings” rally on the Common on Saturday, Oct. 18, 2025.

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Pittsburg, PA

CMU acquires Chatham’s Eastside location, will lease back part of property

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CMU acquires Chatham’s Eastside location, will lease back part of property






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Connecticut

Are You From a Connecticut Family That Eats Toad in the Hole?

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Are You From a Connecticut Family That Eats Toad in the Hole?


Are you from a Connecticut family that grew up eating Toad in the Hole? If so, you probably know it as a quirky breakfast dish — an egg cooked right in a hole cut out of a slice of bread. Just to be clear, no toads were harmed — I simply couldn’t resist using an actual toad photo. But the story behind the name and the dish is a little stranger than you might think.

The original Toad in the Hole comes from England, where it’s a savory meal of sausages baked in Yorkshire pudding batter. No eggs, no toast, just sausages popping out of golden, fluffy batter — the name supposedly comes from the way the sausages peek out like toads in a pond.

When English families settled in New England, they brought culinary traditions with them, and over time, the dish evolved. In the U.S., particularly in some Connecticut households, Toad in the Hole became the breakfast version we know today: an egg nestled in bread, sometimes cooked in a skillet or baked. It’s a far cry from the original sausages-and-batter dish, but it kept the playful name and sense of whimsy.

Read More: Connecticut Zookeeper Explains the Secret Lives of Skunks 

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What’s fun is that the U.S. version is sometimes called “egg in a basket” or “egg in a hole” in other parts of the country, but in many Connecticut homes, it proudly keeps the Toad in the Hole moniker. For families with multi-generational ties to the state, this little breakfast dish is a taste of history, a nod to old English roots, and a perfect reminder of just how weird and wonderful Connecticut’s food traditions can be.

Before researching this, I’d never heard of it, but you’d better believe I’m making one of these this weekend — both the UK and U.S. versions.

Sources: Wikipedia & Food Science Institute 

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10 Most Dangerous Neighborhoods, in Connecticut’s Highest Crime City

Those of us who live in Connecticut know, this place is NOT what the rest of the country thinks it is. We have folks struggling to get by, we have crime, drugs and very dangerous neighborhoods. Recently, I set out to find the most dangerous city in Connecticut and I got a lot more detail than I bargained for. After determining Hartford was the city with the most violent crime, I was able to find the specific places that are the most dangerous within the city. These are the 10 Most Dangerous Places in Hartford according to the Connecticut Bail Bonds Group.

Gallery Credit: Lou Milano





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