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12.05.26 - 20:18
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Crestfallen Commie Mamdani Abandons Planned Property Tax Hike On New Yorkers (ZeroHedge)
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Crestfallen Commie Mamdani Abandons Planned Property Tax Hike On New Yorkers
Looks like NYC's communist mayor has had second thoughts about extracting more taxes by raising New Yorkers' property taxes - something he vowed to do to help close a two-year deficit.
According to Bloomberg, the decision to drop the tax hike will be included in Mamdani's executive budget released today, which will mark the latest version of his spending plan for the fiscal year beginning July 1.
This is separate from a tax on second homes (the so-called pied-à-terre) that was initiated by Governor Kathy Hochul - which is still under consideration as part of state budget negotiations.
Earlier this year, Mamdani threatened to raise property taxes by nearly 10% as a way to lobby Hochul for more funding. He had little support for an across-the-board increase, with City Council members including Speaker Julie Menin opposing the plan. Any increase would have needed to be passed by that chamber. -Bloomberg
Mamdani...
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12.05.26 - 11:06
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SK Hynix reportedly buys Silicon Valley property to bolster AI supply chain (Digitimes)
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SK Hynix has reportedly acquired a building in San Jose, California, as the memory chip maker moves to establish a new production and R&D base in Silicon Valley, a key battleground for AI semiconductors. Industry observers said the move is part of a broader push to expand its global footprint and strengthen its position in the AI semiconductor supply chain....
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12.05.26 - 11:00
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Hong Kong, mainland China spur surge in Asia-Pacific commercial property deals (SCMP)
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Asia-Pacific's commercial property investments surged in the first quarter, according to data tracked by analysts, as early signs of recovery in office and retail segments across Hong Kong and mainland China boosted deal volumes.
Total investment in offices, retail spaces, industrial units, data centres, hotels, apartments, senior housing and other asset classes climbed 22 per cent to US$51.1 billion from the same period in 2025, data from MSCI showed.
Hong Kong contributed US$1.8 billion, a 367......
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12.05.26 - 05:30
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Australia Targets Housing Inequality in New Budget (Bloomberg)
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Australia is set to crack down on tax concessions for property investors, as it looks to ease generational inequality and rein in the budget deficit. Treasurer Jim Chalmers is due to unveil the federal budget Tuesday, anchored by a flagship housing package. Bloomberg's Paul Allen reports on Australia's property obsession and speaks to ANU's Jill Sheppard about what's at stake. (Source: Bloomberg)...
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