REAL ESTATE: No Relief in Sight

Into Manhattan's Hotel Commodore last week swarmed 750 members of the National Association of Building Owners and Managers. Coming from 70 U. S. cities, they were hornet-mad about a politico-economic national scandal. The scandal is that urban property taxes are so high that they drive population to suburbs, so that city real estate and city governments face bankruptcy together. Of the gross annual income of $7,000,000,000 derived from U. S. real estate, $4,500,000,000 goes for taxes.

New York's peppery little Mayor Fiorello LaGuardia sympathized with the owners and managers, then added, "In...

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