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Podcast: Darin Garman’s Heartland Multi-Family Show
Episode: Why Only 5% of Investors Still Buy Apartments in New York
Description: On this episode of the Heartland Multifamily Show, I explain what I call The Mamdani Effect.
Zohran Mamdani, the recently elected mayor of New York City, has promised to bring down rent prices. While the intention may be political or social, the economic reality of real estate tells a different story.
In multifamily investing, expenses rise over time. If rent growth is capped or restricted, the math eventually breaks. When income is frozen and costs continue to climb, investors respond in predictable ways.
That response is the Mamdani Effect.
Serious investors...