‘There is no Mamdani effect’: Manhattan luxury home sales surge after mayoral election, undercutting predictions of doom and escape to Florida

https://fortune.com/2025/12/04/mamdani-effect-new-york-city-real-estate-manhattan-luxury-millionaires-billionaires/

30 comments

  2. So all the dramatic “everyone’s fleeing to Florida” predictions turned out to be noise. Shocking how reality refuses to follow the panic script.

  4. Entirely Predictable. Boston raised taxes on the rich and is thriving.

  5. When you have no morals boycotting is harder than you think. Say hi to all your MAGAts at Costco tomorrow

  6. As it turns out, when you call the rich’s bluff, they fold.

  7. Alternative title: “Right wing propaganda is factually incorrect.”

    Yeah.. no shit.

  8. Damnnnn, I was so ready to buy one of those Manhattan flats after the crash ~ I thought the information I got off of that /r/ con sub was rock solid!! It’s weird, it’s like I keep relying on it for information and in retrospect it just never seems to line up with reality.

  10. Of course. The “wealth flight” if we don’t bend over backwards never happens.

    America can, and should, fight for the poor and working class. Ultimately, it will have no meaningful impact on the very wealthy since your daily life does not change one iota if you “only” have $500 million versus $500 billion.

    However, a working class family going from $60,000 a year to $200,000 a year will very much have their lives changed for the better. And the insane part is that a stronger middle class raises all boats. It is stupid that people cannot understand something so basic.

  11. Florida and Texas over the last 10 years, and really hard since COVID, have tried their hardest to build blue desirable cities like Austin, Houston, Miami, Orlando, etc into business epicenters and its crashed and burned. NYC is NYC because it’s the finance and business capital of the world. California is the tech and start up capital of the world. The super wealthy do not want to start businesses there.

  14. Gee, conservative hysteria isn’t based on fact. Imagine that.

  15. Guess I’ll have to let my dad know that the Fox News bullshit he was spewing over thanksgiving isn’t borne out by the data. I’m sure he’ll change his mind.

  16. More socialism means more culture means a funner city

  17. Wow the wealthy lied in bad faith I can’t believe it they never do that

  18. Did that loser creep Cuomo move yet? That’s the only rich guy I really want to leave the city

  19. The daily show posted a compilation of fox News warning new Yorkers will leave if there is a tax hike almost every other year since 2009. Bunch of clowns lol

  21. Mamdani hasn’t even started his term yet and people were saying the city would descend into madness.

  22. Putting something up for sale in an area that has no market for buying expensive stuff, means rich people locked themselves into paying taxes on property they cant sell. The idea that people will flee if you tax them is dumb. No business is going to cut off almost 400 m consumers and move to EU where they would need 5 countries to be able to sell to the same number of people. So this tells me a lot of rich people are trying to panic but seriously, who has the money to buy up their stuff?

  23. Scare tactics didn’t work? Must have been spread by MAGA.

  24. No other city in America has the cultural cachet that NYC has. Florida can’t compete.

  25. People dont choose to live in Florida. You end up there.

  26. If luxury home sales are surging, then the mamdani effect sounds like it does exist and is a good thing?

  29. What? Republicans are wrong and the rich aren’t fleeing New York City? What a surprise. I never would have guessed that people aren’t just leaving America’s largest city because the mayor wants to make the bus free and feed kids in school.

  30. Who knew, the rich wont flee.

    Oh, right, Mamdani knew. As did all of us who aren’t neoliberals or Rs waking up from a nightmare in which the wealthy got taxed an extra 1%.

Comments are closed.