In the aftermath of much well-heeled panic about a potential mass exodus of New York millionaires and billionaires following the election of Zohran Mamdani, the contrary is already happening, and Manhattan luxury apartment buyers are voting with their wallets.
Signed contracts for Manhattan homes costing $4 million or more rose to 176 in November, a 25% increase from October’s 141 deals, according to fresh data from brokerage Douglas Elliman and appraiser Miller Samuel. New signed contracts of more than $4 million increased at more than twice the rate of the overall market, the report noted.
He’s been in office for two weeks and hasn’t fixed all the problems yet!!! What a sham! I’m totally voting Republican now!!!
… People are fucking idiots
They know that whatever their money religion’s ministers say, at street level, NYC will be a great place to live, if Mamdani gets his way.
I’m reminded of the rich AF Hollywood supposed leftists that were saying they’d move to Canada if Bush won his first term. And then his second term.
I mean, under W? Why would they move to Canada, exactly?
Cuomo said he’d move to Florida, hopefully the supposed Mamdani effect at least works on him.
No one is leaving NY because Florida does not have decent pizza or italian sandwiches.
Is there even a museum in Florida without fake animals?
😂
They don’t want to be big fish in small ponds, they want to be big fish in big ponds, hence why Indianopolis or Cincinnati or whatever other big but not NYC big towns didn’t see billionaires rushing in.
It would’ve been hilarious if they rushed to Cincinnati
NYC billionaires traditionally love chili on spaghetti.
Don’t knock it until you try it. It’s one of the few meat foods I kinda miss.
Elon Musk and Tesla had already proven that wealthy glorified welfare recipients cause no harm when they leave a state.
Eh, I went to a few pretty good museums in Key West once. Although, they also tried to become The Conch Republic for about a day that one time, so maybe they don’t count as mainland Florida.
They have Hemingway’s house and the bar he used to go to which is neat but that’s about it. Also, there is a marker signifying the most southern point of the continental United States.
Eh, there’s a little more than that.
- Lots of piracy museums
- Open beverage carry on Duval St.
- Lots of gay clubs
- More tour boats than you’d think possible for such a small island
- Drunken cruise passengers
- Drunken tourists on bikes/scooters/ATVs.
- Military base
- Old Civil War era fort (not the same thing)
- Margaritaville
Most of those things are up for debate following each hurricane season.
Its always a damned margaritaville or a rainforest cafe.
Rich people fleeing because of a “socialistTM” politician in power is a complete nonsense since FDR. Even Warren Buffet called it out. Sure, some leave, but it is usually just a handful who do.
I also think that many rich people decided to stay and buy property in New York is because they actually know that Mamdani is a more stable economic hand than GOP states such as Florida. Plenty of tycoons low key wish for America to “Make America, America Again” because they are anxious of Trump’s chaotic economic policies; so much so that JP Morgan CEO threw his support on Mamdani, the same CEO who implored people to divest away from the US.
Sure, some leave, but it is usually just a handful who do.
I mean, back in the 1980s, there really was a big exodus of fossil fuel companies from the Northeast (NY / NJ / CT) down to the Gulf Coast. My dad was part of that transition, forcing us to leave our beautiful garden state home and decamp to the armpit of America, Houston TX.
But this was a decision made at the executive level largely due to the Nixonian Southern Strategy combined with a national reorganization of Republican and Democrat aligned business interests. The downturn in the O&G economy made real estate in the Gulf Coast dirt cheap, while land prices in the New England area stayed relatively high. And the reorganization helped Reagnite voting coalitions finally flip states like Texas and Florida after decades of entrenched Dixiecrat control.
Nothing like that is shaping up in lower Manhattan specifically for the year 2026.
They’ve been saying that wealthy people would leave nyc for at least 20 years. Fear mongering.
Probably most of those stating they’d run away already had Florida or other avoid-NY-taxes out of state license plates on their cars before the election.
escape to Florida
Lol
Removed by mod
20 years ago I almost moved to Florida. I liked it.
And now? I’m so glad I didn’t do it. I don’t know if I’m less blind, or if it’s gotten worse. But now I don’t even want to visit, much less live there.
Then again, I don’t want to live in Ohio either. Yet here we are.
I grew up in Florida. Have left a few times, but moved back in 2019 then left again in 2022 right before shit really hit the fan. 20 years ago Florida was a lot nicer than it is now. 10 years ago, too. Maga has turned the quiet, chill little beach town I grew up in into a maga hell, and now you couldn’t pay me to go back. The worst thing about Florida used to be the weather. Used to be.
But also growing up each and every single “new kid” at school was from New York, and there were lots of jokes about us living in ‘South New York’ so I can see where the prediction came from, there’s plenty of precedent. But that was when land was cheap and politics were similar.
I have a couple friends who moved to Florida, mostly for a job. It didn’t last long, they’re back in the land of the free again.
Then again, I don’t want to live in Ohio either. Yet here we are.
Well, at least its cheaper cost of living than FL.
Ableist slurs are not allowed.
https://www.specialolympics.org/stories/impact/why-the-r-word-is-the-r-slur
Not even sworn in yet and Mamdani is already failing to deliver on his promises of lower Manhattan rental prices.
I mean, it sounds like the number of millionaires leaving did go up. It’s just that there are plenty of other ones willing to replace them.
These may have also been homes already up for sale.
This is interesting because it contradicts past examples such as London. It’s slightly less interesting, though, because the Rich leaving actually doesn’t have a lot of practical consequences: they’re leeches on the local economy and outsource labor often.
London is an outlier quoted as the rule. London attracted rich people from all over the world with tax cuts and benefits. The leeches leeched and predictably contributed nothing. Since this is unsustainable, they raised taxes again. Wealth flight occured because the people that left had only moved there for the tax savings. London was not their home, they never tried to make it their home.
lmao these rich fucks WANT to pay more because it’s a status symbol to other rich people that they can afford what others cannot
you have to be so goddam stupid to believe anything they say ever
