EVEN MORE NEW YORKERS MAY BE ON THEIR WAY TO FLORIDA
New York’s mayoral race could reshape Florida’s real estate market. If Zohran Mamdani wins, experts expect another wave of wealthy New Yorkers to flee the city’s shifting politics for Florida’s condos and HOAs. Agents are already seeing signs, and sellers may benefit by waiting to list until November. Like it or not, more New Yorkers may be on their way — and Florida could feel the impact soon.
By Eric M. Glazer
· 2 min read
It kills me to see the political direction of what was once my home. It’s unimaginable, a Communist whose father condones suicide bombers against Israel, has a legitimate shot of becoming the next Mayor of New York City. Well, Floridians need to know that New York City politics is potentially about to have a huge financial effect on the condo and HOA market here in Florida. Here’s what an article right out of CNN says:
When Zohran Mamdani won the Democratic primary for mayor of New York City last month, Jay Batra, a real estate broker in the city, felt his business take a hit.
Two separate clients working with Batra to buy multimillion dollar properties in Manhattan told Batra they were putting their plans on pause, citing wariness about New York’s political environment, he told CNN.
“A lot of the affluent clientele and luxury buyers have become a little more cautious in their approach,” Batra said. “The more traction (Mamdani) gained, it went from a little concern to ‘wow, where is the city going?’” Several real estate professionals have said his victory has prompted some wealthy New Yorkers who disagree with his politics to accelerate their plans to leave the city.
That same article continues and says:
Agents in Florida told CNN they are bracing for another wave of New Yorkers to relocate to the state, like the surge Florida experienced in the early years of the Covid-19 pandemic. Between April 2020 and July 2024, Florida’s population grew by more than 8%, making it the fastest-growing state in the US during that time period, according to the US Census Bureau.
For some agents, the calls from New Yorkers have already started coming in.
So for those of you out there who have plans to sell your home or your condo, you may want to wait until November and see who wins the New York City Mayoral race. You may wind up getting a bigger bang for your buck if Mamdami wins and New Yorkers flee. And for those of you who don’t want more pushy New Yorkers to come to Floridia ---- if Mandami wins, you can FUGHEDABOUDIT ------ NEW YORKERS WILL BE ON THEIR WAY – LIKE IT OR NOT.