A New York Times' series on the foreign purchase of high-end condos in New York City noted that the number of residences costing over $5 million has more than tripled in the past decade. While tax breaks to encourage condo developments cost a half-billion dollars a year, some say they fuel those exorbitant prices, raising housing prices in general.
Have tax breaks, zoning and other policies that have fueled condo development unfairly benefited the rich at the expense of other residents?
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Room for Debate: Does Helping Condo Developers Hurt the City?
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