Taxing luxury homes may be perfect solution to fixing America's inner cities

New York

WHILE President Donald Trump talks repeatedly about fixing America's inner cities, it's a good bet that in the coming years, New York and other large metropolitan areas will need to be more self-reliant in solving pressing problems, especially low-income housing.

After all, many big cities face a triple threat: Mr Trump wants to cut funding to sanctuary cities; his nominee to run the Department of Housing and Urban Development, Ben Carson, is unlikely to be a strong and creative leader; and the Republican Congress is eager to chip away at federal housing programmes. In response, cities need local financing initiatives that make up for the coming dearth of federal assistance.