this post was submitted on 05 Dec 2025
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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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[–] madcaesar@lemmy.world 10 points 1 day 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 6 points 1 day ago

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

[–] JTode@lemmy.world 4 points 1 day 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.

[–] Gladaed@feddit.org 1 points 1 day 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 day 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?

[–] xxce2AAb@feddit.dk 95 points 2 days 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.

[–] Sternout@feddit.org 2 points 2 days ago

How ever shall the millionaires afford that?

[–] mcv@lemmy.zip 31 points 2 days 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 7 points 2 days 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 2 days 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?

[–] Lasherz12@lemmy.world 43 points 2 days ago

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

[–] SaveTheTuaHawk@lemmy.ca 8 points 2 days ago (7 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 1 day ago
[–] Stern@lemmy.world 2 points 1 day 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 3 points 1 day ago (1 children)

It would've been hilarious if they rushed to Cincinnati

[–] treesapx@lemmy.world 3 points 1 day ago (1 children)

NYC billionaires traditionally love chili on spaghetti.

[–] captainlezbian@lemmy.world 2 points 1 day ago

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

[–] ronl2k@lemmy.world 3 points 1 day 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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[–] Akasazh@feddit.nl 14 points 2 days ago (2 children)

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

[–] BarneyPiccolo@lemmy.today 4 points 1 day 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 day 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 1 day ago

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

However tiny sparkles of hope I do embrace.

[–] lemmy_get_my_coat@lemmy.world 8 points 2 days ago

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

[–] boonhet@sopuli.xyz 11 points 2 days 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.

[–] aceshigh@lemmy.world 19 points 2 days ago (6 children)

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

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[–] Nusm@peachpie.theatl.social 6 points 2 days ago

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

(Yes, these signs are real.)

[–] grue@lemmy.world 12 points 2 days 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 2 days ago

These may have also been homes already up for sale.

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 7 points 2 days ago (3 children)

Why would any rational person move to Florida? Lmao.

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[–] ramenshaman@lemmy.world 7 points 2 days ago

escape to Florida

Lol

[–] notsure@fedia.io 10 points 2 days ago

...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...

[–] TankovayaDiviziya@lemmy.world 3 points 2 days ago* (last edited 1 day 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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[–] LanguageIsCool@lemmy.world 1 points 1 day ago

What a surprise

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