this post was submitted on 05 Dec 2025
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politics

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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.

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[–] Gladaed@feddit.org 1 points 57 minutes ago

"there is no mamdami effect" Following his election: "25% Signed Contract increase"

Make up your mind. They can't be true at the same time.

[–] CharlesDarwin@lemmy.world 1 points 1 hour ago

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?

[–] JTode@lemmy.world 4 points 3 hours ago

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.

[–] madcaesar@lemmy.world 9 points 7 hours ago (1 children)

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

[–] jjjalljs@ttrpg.network 4 points 4 hours ago

He's not even in office until January , so anyone sincerely saying that has an extra layer of idiocy.

[–] SaveTheTuaHawk@lemmy.ca 10 points 1 day ago (6 children)

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?

[–] JTode@lemmy.world 2 points 3 hours ago
[–] Stern@lemmy.world 3 points 22 hours ago (2 children)

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.

[–] captainlezbian@lemmy.world 2 points 15 hours ago (1 children)

It would've been hilarious if they rushed to Cincinnati

[–] treesapx@lemmy.world 2 points 1 hour ago (1 children)

NYC billionaires traditionally love chili on spaghetti.

[–] captainlezbian@lemmy.world 1 points 1 hour ago

Don't knock it until you try it. It's one of the few meat foods I kinda miss.

[–] ronl2k@lemmy.world 2 points 20 hours ago

Elon Musk and Tesla had already proven that wealthy glorified welfare recipients cause no harm when they leave a state.

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[–] mcv@lemmy.zip 29 points 1 day ago (2 children)

For most people, but especially for the rich, a liveable environment is far more important than a bit more money. Nobody who has saving money as their first priority is going to be living in New York anyway. But a liveable city that's safe, fun to be in, and that you can move around in without fearing for your life, those are far more important to most people.

So I'm not surprised that Mamdani's victory is drawing more people to NY.

[–] boonhet@sopuli.xyz 8 points 1 day ago

Literally if I was loaded I'd love to live in NYC despite it being expensive. Because (and I can't stress this enough) YOLO. Spend your life enjoying it, not saving up every single penny. And in this case, the taxes can contribute to enjoyment through increased safety and other livability factors.

[–] mirshafie@europe.pub 6 points 1 day ago

This is obvious when you think about it even a little bit. You can't buy safe streets.

What's the point of being ultra-rich when you have to step outside into Phnom Penh and watch how toddlers collect scrap?

[–] xxce2AAb@feddit.dk 89 points 1 day ago (1 children)

Wait. Are you telling me that people would be willing to pay a small premium for living in a place that isn't a shit hole, surrounded by content people who aren't feeling murderously angry about crappy circumstances beyond their control?

Huh.

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[–] boonhet@sopuli.xyz 13 points 1 day ago

And if it WAS a real thing, it would mean fewer people in NYC, which would make it more affordable, would've been positive either way.

[–] Akasazh@feddit.nl 14 points 1 day ago (3 children)

After decades of posing socialism as the root of all evil it is remarkable how it's really not.

[–] BarneyPiccolo@lemmy.today 3 points 5 hours ago (2 children)

Don't celebrate too early. The last thing they want is an experiment in Socialist Democracy, and if it is forced on them, like this, they will do ANYTHING to make it fail.

Mamdani's got a rough road ahead, so we'll have to help him resist all the ferocious propaganda and interference he's going to face. We have to have his back, and make this experiment successful, so it can spread across America.

[–] CharlesDarwin@lemmy.world 1 points 1 hour ago

It's like Chomsky talks about when he talks about the "threat of a good example". I would not be surprised to see lots of little Eichmanns all trying their best to hamstring this, even if they are not as prominent (and as stupid) as Taco.

[–] Akasazh@feddit.nl 1 points 4 hours ago

I'm not celebrating at all. Shit is way too serious.

However tiny sparkles of hope I do embrace.

About time. We've seen so much evil that's unconnected to socialism.

[–] FlyingCircus@lemmy.world 1 points 22 hours ago

It’s funny how socialism is in fact the antidote to the root of all evil (capitalism).

[–] LanguageIsCool@lemmy.world 2 points 22 hours ago
[–] Lasherz12@lemmy.world 38 points 1 day ago

Cuomo said he'd move to Florida, hopefully the supposed Mamdani effect at least works on him.

[–] Nusm@peachpie.theatl.social 8 points 1 day ago (1 children)

Are you telling me that people don’t want to move to the FREE STATE OF FLORIDA?

(Yes, these signs are real.)

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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.

[–] yeahiknow3@lemmy.dbzer0.com 8 points 1 day ago (2 children)

Why would any rational person move to Florida? Lmao.

[–] ameancow@lemmy.world 1 points 1 day ago* (last edited 1 day ago)

Maybe if you own a business and want the freedom to dump your toxic waste directly into water sources. Or if you sell meth.

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[–] TankovayaDiviziya@lemmy.world 3 points 1 day ago* (last edited 23 hours ago) (1 children)

Rich people fleeing because of a "socialist^TM^" 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.

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[–] ZK686@lemmy.world -2 points 17 hours ago (2 children)

I'm a Republican and I could have told you this. Both sides are guilty of over-hyping negativity for certain politicians, and it never turns out to be that bad.

[–] jjjalljs@ttrpg.network 1 points 4 hours ago

I’m a Republican

In 2025? Why on earth? No Republican policy is good. Their policies don't align with their marketing.

[–] Maroon@lemmy.world 1 points 16 hours ago

I'm a Republican...

Well then, fuck you.

[–] aceshigh@lemmy.world 15 points 1 day ago (6 children)

They’ve been saying that wealthy people would leave nyc for at least 20 years. Fear mongering.

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[–] grue@lemmy.world 12 points 1 day ago (1 children)

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.

[–] Soup@lemmy.world 9 points 1 day ago

These may have also been homes already up for sale.

[–] ramenshaman@lemmy.world 7 points 1 day ago

escape to Florida

Lol

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