Dolly Lenz and Jenny Lenz warn that New York City’s luxury housing market could cool sharply as lawmakers consider a recurring tax on high‑value second homes. They discuss pushback from high‑net‑worth buyers and developers like SL Green (SLG), along with risks of capital flight to lower‑tax regions. The duo also examines regional divergence in housing demand, rising insurance pressures, and why buyers continue to favor new construction over existing inventory.