The price was not right.
In their New York City mayoral endorsement interviews, published Monday by The New York Times, Democratic candidates Shaun Donovan and Ray McGuire dramatically underestimated the cost of homes in the city.
When asked the median sales price for a house or apartment in Brooklyn, McGuire, a former Citigroup vice chairman and Wall Street executive responded, "It's got to be somewhere in the $80,000 to $90,000 range, if not higher." The correct answer was $900,000.
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When asked the same question, Donovan, who was the head of the Department of Housing and Urban Development under former President Barack Obama and a housing commissioner under former New York City Mayor Michael Bloomberg, answered, "I would guess it is around $100,000." He later emailed to clarify his response as referring to the "assessed value" of homes in Brooklyn, not their price.
Of the eight candidates interviewed, the only one to answer correctly was former presidential candidate Andrew Yang, although Scott Stringer and Kathryn Garcia came close. Maya Wiley overestimated, responding with $1.8 million.
The Times later officially endorsed Garcia. The New York City mayoral primary will be held on June 22nd.
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