When Is Regulation Confiscation?

<p>Today we&#39;re looking at New York City, and specifically at the combined impact of two policies associated with Mayor Mamdani&#39;s housing agenda, a rent freeze on rent-stabilized apartments and a proposed 9.5% increase in property taxes.</p><p>Now separately, each of these policies is a political choice. Together, they become something more serious. They become a stress test of whether private ownership still means private ownership, or whether ownership has been reduced to a set of obligations without the corresponding rights.</p><p>This is …