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Commotion Over the Second-Home Tax Is Spreading Across NYC, Record Heights, US Inflation Eases as Food and Fuel Costs Cool, The Subway Is Sweltering. Is There a Way to Put T...

Martin Eiden | August 17, 2026

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Commotion Over the Second-Home Tax Is Spreading Across NYC

New York City’s looming tax on luxury second homes has left thousands wading through myriad questions about the tax and the rollout so far. The tax applies to homes in New York City that are worth $5 million or more and don’t serve as the owner’s primary residence. There are a few exemptions, such as if an immediate family member is living in the home or if it is rented out longterm. (Reach Out to Learn More and

Read More Here)

Record Heights

Continued positive momentum in quarterly earnings and major gains in select tech stocks like Meta and Micron pushed the S&P 500 and Dow to record highs, with the former index up 3.6% for the week and the latter gaining 3.0%. The NASDAQ surged 5.2%, although it remained 1.5% shy of the historic peak it reached more than two months earlier

.

(More)

US Inflation Eases as Food and Fuel Costs Cool

US prices rose 3.4% in the year to July, slightly lower than the 3.5% in the year to June, new figures show.

Energy remained volatile as the Middle East conflict has continued. While gasoline prices were down 2.9% in July compared to June, they were up 24.6% over the year.

Month to month, inflation rose 0.1%, mainly due to an increase in housing costs, the Bureau of Labor Statistics said.

(More)

The Subway Is Sweltering. Is There a Way to Put That Heat to Good Use?

Summer in the New York City subway, where temperatures can exceed 100 degrees on train platforms, can feel like a sauna — to say nothing of the aromas.

Now, Mayor Zohran Mamdani and state transit officials want to try something new: an underground air-exchange system that could cool stations in the summer and heat nearby buildings in the winter.

(More)

Jobs Slump & Rate Hike Outlook

Friday’s monthly labor market report showed a decline of 23,000 jobs in July, well below consensus forecasts for a gain of around 90,000. Bond market trading reflected declining expectations for a U.S. interest rate increase at the mid-Sept U.S. Federal Reserve meeting. Prospects for a rate increase were at 67%. 10-Year Treasury soared past 4.62% last week. (More)

Manhattan Luxury Report

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Team News

Paris x NYC

I recently returned to New York City after a wonderful trip to Paris with my family. Spending time together, exploring the city, and taking in everything Paris has to offer was a great way to enjoy the summer and step outside our usual routines. But as much as I loved being away, I couldn’t help noticing how often Paris made me think of home.

Paris reminds me of New York City in so many ways!

The diversity of the population along with so many languages and smiling faces. The museums, fashion and the amazing restaurants on tiny side-streets.

There’s an energy and sense of discovery in both cities that makes simply walking around feel like an adventure.

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It is an easy way to navigate all of the services we offer, guides to NYC's most iconic neighborhoods, advice and guides for buying/selling in NYC, the best restaurants, bars, etc, and so much more!

https://stacklist.com/martin-eiden-team

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Martin Eiden

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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