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Andrew Yang nailed a Brooklyn house price inquiry in NYC mayoral race Business and Economic News

Two New York nominees – Shaun Donovan and Ray McGuir – underestimated the cost of a Brooklyn neighborhood home by guessing the average price to $ 100,000 when the actual price is $ 900,000, questioning whether they are in contact with the new daily. Yorkers.

Brooklyn house for $ 100,000? Maybe 40 years ago.

Shaun Donovan and Ray McGuire, two of the candidates who want to become the next mayor of New York, underestimated the cost of buying a home in Brooklyn in recent interviews with the New York Times to grow approval for the race.

Public gaffes raise concerns about whether candidates are in contact with everyday New Yorkers and their ability to meet the challenges of affordable housing in the city.

McGuire, a former executive at Citigroup Inc., guessed the average selling price in the borough was $ 100,000. Donovan, a former city housing commissioner, cited between $ 80,000 and $ 90,000.

Former President Andrew Yang nailed the correct answer: $ 900,000.

Kathryn Garcia, the former head of the city’s sanitation approved by the Times for mayor, hit $ 800,000. Maya Wiley entered $ 1.8 million.

When given a median price of $ 900,000, Wiley responded that “it’s much higher in some neighborhoods.” A spokeswoman for Wiley said she knew how much an apartment would cost.

The comments came six weeks before the June 22 primary and are likely to decide the next mayor of the city in the big democratic city.

It’s likely to go up for about 40 years when Brooklyn’s average sale was $ 100,000, real estate appraiser Jonathan Miller, president of Miller Samuel Inc., said.

Miller has data for 2003, when the Brooklyn median was $ 299,130. The numbers in Manhattan are from 1989, when the average price of New York’s most expensive neighborhood was $ 240,000.

At the time, Brooklyn prices were a third lower than Manhattan, which was the last time the Brooklyn median of $ 100,000 was in the early 1980s, Miller said.

A spokesman for Donovane said in a Twitter message that the former city housing commissioner had misunderstood the question.

McGuire acknowledged his mistake and said it was not a reflection of his commitment to tackling the city’s housing problems.

“I was confused when I considered the cost of housing in Brooklyn. I am human. But make no mistake, I am very interested in the crisis of affordable housing in our city, “McGuire said in an emailed statement.” I know what it’s like to be unable to afford a house because it’s been my experience. “

Spokesmen for other campaigns did not immediately respond to requests for comment.




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