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🚨 BILL ACKMAN JUST TORCHED MAMDANI The successful hedge fund manager didn’t hold back: “Left-wing mayors made it nearly impossible for developers to build. That’s why housing is so expensive. Mamdani’s rent freeze will make it WORSE. Energy is a mess because they shut down nuclear power. Socialism is...

64,017 Aufrufe • vor 17 Tagen •via X (Twitter)

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Billionaire hedge fund manager Bill Ackman says “Socialism is a disaster” He explains the real reason housing is so expensive in New York City is because Democrat mayors for years have made building new housing near impossible “Why is the cost of housing so high in New York City? Because unfortunately, left-wing mayors have made it very difficult for developers to build in New York City. Zohran Mamdani, when he's freezes rents, he's just going to make the problem worse. There are buildings in New York City, many, many buildings in New York City, where half the tenants, plus or minus, are rent-stabilized apartments, and so their rent is frozen, and the other half are free market. And so what does the landlord do in order to generate enough cash flow to cover his interest expense? Well, he's gonna raise rents 'cause he can't raise them on half the apartments” “We can fix a lot of these problems with much better policy. Look at Florida. Florida's an incredibly well-managed state. They're talking about eliminating, I think they voted recently to eliminate real estate taxes. How are they able to do that? Just good policy” “You want the Ken Griffins of the world to locate Citadel here. You want him to spend $250 million dollars in apartment. Why? Because that $250 million dollar purchase made that building economically viable — You want to have the Elon Musks of the world, but you don't wanna discourage Elon Musk from locating his business here” This is what Democrats don’t understand, regulations and insane taxes are killing initiatives to build new housing developments I ran a comparison and found when you take into account all the taxes, permits and fees. It would cost 4x more to build an apartment complex in NYC vs a place like Orlando Florida

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