Northeast
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)
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.
CONSERVATIVE STATES SEE LOWER INFLATION THAN LIBERAL ONES NATIONWIDE, WHITE HOUSE DATA SHOWS
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.
“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.
FROM FREE BUSES TO CITY-OWNED GROCERY STORES, HERE ARE MAMDANI’S KEY ECONOMIC PROMISES
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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Maine
Opinion: Owen McCarthy offers Maine Republicans real change
The BDN Opinion section operates independently and does not set news policies or contribute to reporting or editing articles elsewhere in the newspaper or on bangordailynews.com
Michael Capeci is the former chairman of the Bangor GOP.
Let’s be honest about Maine’s current state.
For many families, the cost of living has become unsustainable. Housing is out of reach for many young people. Energy bills keep rising. Many small businesses are struggling under taxes and regulations that make it harder to grow. Rural hospitals are under strain and despite years of increased state spending, the results are not showing up in people’s daily lives.
Concurrently, Maine continues to lose young workers to other states. That is not a statistic, it is a warning sign.
To me, the question in this Republican primary for governor is not about slogans. It is whether we continue with a political approach that has failed to reverse these trends, or whether we nominate someone with new ideas. I think that someone is Owen McCarthy.
Owen is not a political insider. He is an entrepreneur from Patten, a small town where opportunity is not assumed, it is built. He grew up in a working-class family, became the first in his family to graduate from college graduating from the University of Maine, and founded MedRhythms, a healthcare technology company focused on neurological treatment.
He didn’t just talk about opportunity. He built it. That distinction matters, because Maine’s problem is not a lack of debate it is a lack of results. We have seen the trajectory: higher costs, slower growth, and a steady outmigration of young workers. I believe Owen McCarthy represents a break from that pattern.
His Maine 2040 plan focuses on creating 50,000 new jobs in sectors where Maine has real advantages — maritime and defense, advanced forest products, and life sciences. These are export-driven industries tied directly to Maine’s workforce, geography, and institutions. What sets Owen apart is not only what he proposes, but how he approaches governing.
He prioritizes modernizing permitting so projects do not stall. He supports using technology to reduce costs and increase efficiency. He focuses on making it easier to build, hire, and expand in Maine.
That same practical mindset extends to healthcare. Expanding telehealth, strengthening EMS systems, improving provider flexibility, and shifting toward earlier intervention are not abstract reforms. They are system upgrades designed to improve access while controlling costs.
Maine voters consistently respond to competence. They reward candidates who understand problems and present plans to solve them. I believe they are tired of rhetoric that does not translate into results, and skeptical of politics that prioritizes messaging over execution.
Owen’s approach is grounded in solving the issues that shape daily life — affordability, healthcare access, job creation, and government efficiency. That is not just policy positioning. It is a governing model that speaks directly to voters.
Some will point to his lack of political experience. But I believe Maine’s core problems are not the result of insufficient political experience; they are the result of policies that have failed to deliver measurable improvement. Experience inside a broken system, by itself, is not a solution.
If Republicans want to win, this primary must be taken seriously. From my perspective, it is not about choosing a nominee for governor who can energize the base. It is about selecting someone who can compete in a broader electorate that is frustrated and looking for change.
That requires a candidate who can speak beyond the base, not by abandoning principles, but by demonstrating competence and a credible plan to address Maine’s challenges. I believe Owen McCarthy offers that combination. He represents a shift away from managed decline and toward economic execution.
This is not just another primary. It is a decision about whether Republicans position themselves to win Maine or whether they remain trapped in a cycle of repeating the same strategies and expecting different outcomes.
If Republicans want to compete for Maine’s future, they cannot afford to nominate a candidate who only motivates part of the electorate. They need someone who expands it.
I believe Owen McCarthy is that candidate.
And if the goal is to win Maine, then the choice should be unmistakable
Massachusetts
Massachusetts high school under investigation after teachers diagnosed with breast cancer
A Massachusetts high school is under investigation after “several” teachers have been diagnosed with breast cancer or precancerous conditions.
The state Department of Public Health is set to visit Uxbridge High School on Thursday to “conduct a series of air quality tests,” to determine whether the multiple cases are potentially connected.
Superintendent David Ljungberg and Principal Michael Rubin alerted families and district staff on Monday of the “sombering news,” after Uxbridge High School’s graduation over the weekend.
“We are writing to inform you about a concern we are investigating at Uxbridge High School,” Ljungberg and Rubin stated in the letter. “Several female teachers have been diagnosed with breast cancer or precancerous conditions over the past few years.”
“It is, of course, possible that these multiple cases are not connected to one another,” the leaders added, “but out of abundance of caution, we are looking into any environmental factors at the school that may be a factor in their diagnoses.”
The 123,000-square-foot school, with an enrollment of roughly 600, was constructed in 2012 at a cost of $45 million, including a $22-million state reimbursement.
Uxbridge school leaders say they notified the state Department of Health and local health board as soon as they became aware of the cases, seeking “counsel about how best to proceed.”
“Massachusetts DPH officials have indicated that there is no evidence of immediate danger in the building and no reason to limit access to or use of the facility at this time,” they wrote in their letter. “In fact, the public health officials have commended our decision to approach them with these concerns, our readiness to partner with them in support of the evaluation process.”
Health officials are assessing the school’s interior and exterior to “ensure there are no issues with the infrastructure that would present risks (including electrical, plumbing, mechanical, HVAC, and other systems)” and the indoor and outdoor air quality on campus.
The superintendent and principal said that state officials have ruled out water supply as a “risk factor” after “thorough testing.”
“The team has reached out to the women who have been diagnosed, requesting data to evaluate whether there may be a connection among their cases,” Ljungberg and Rubin wrote. “We are grateful for their cooperation.”
They added that the state has said discovering an environmental “smoking gun” is “rare” in workplace investigations.
“However, even if a direct causal link is not established,” the leaders wrote, “the administration is utilizing this process to rigorously test the building and guarantee that it meets all safety standards moving forward.”
New Hampshire
The Dip | River House Restaurant Concert Series
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📍 Prescott Park Arts Festival, Portsmouth NH
📅 Wednesday, July 1 at 7PM
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Prescott Park Arts Festival
07:00 PM – 11:59 PM on Wed, 1 Jul 2026
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