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.
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.
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.
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.
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?
After decades of posing socialism as the root of all evil it is remarkable how it’s really not.
About time. We’ve seen so much evil that’s unconnected to socialism.
What a surprise
Are you telling me that people don’t want to move to the FREE STATE OF FLORIDA?
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.
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.
Why would any rational person move to Florida? Lmao.
Not that it’s a good state to be homeless, but at least you don’t freeze in the Winter.
Cuomo said he’d move to Florida, hopefully the supposed Mamdani effect at least works on him.
escape to Florida
Lol
They’ve been saying that wealthy people would leave nyc for at least 20 years. Fear mongering.
A lot of people did leave, following covid.
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.
Removed by mod
Ableist slurs are not allowed.
https://www.specialolympics.org/stories/impact/why-the-r-word-is-the-r-slur
Thanks for replying. I’m borrowing your nice citation.
Been seeing too much of this on fedi the last few months. And ‘autistic (object)’ as an insult. Like fedi isn’t built by neurospice and queerdom.
Folks can leave slurs and bullying on meta/truth.soc federations.
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.
This is bad. He’s supposed to be making rent not go up
These are house sales, not rentals.
…as much as they campaign against it, wealthy people understand that when the chips fall, the “fairest of them all” always wins…they will steal and cheat as much for as long as they can, but most understand the guillotine…this is not new…this has been happening for about, quick and check my post history, 4000-3000 years…we decided pyramids were more effective and pretty…
