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Daily Mail
6 days ago
- Business
- Daily Mail
Why millionaires are fleeing New York after Mamdani's win
After Zohran Mamdani won the Democratic primary for mayor of New York City in June, the local real estate market quickly took a dramatic turn. Luxury buyers started pulling the plug on purchasing apartments due to Mamdani's proposed policies, and wealthy New Yorkers who strongly disagree with his progressive politics are looking to leave the city altogether. Ever since the pandemic, a wave of wealthy residents have relocated full-time to low-tax state Florida and, once again, that appears to be the plan for some. 'Two weeks ago, I had a couple of buyers In the $3, $4 and $5million price point range - one I was selling a building to - who are no longer interested in buying,' New York luxury realtor Jay Batra told the Daily Mail. 'They don't want to hear about Mamdani and the rent freeze he is proposing.' Mamdani's emphasis is on socialism and the redistribution of wealth. He will be up against incumbent Mayor Eric Adams , who is running as an independent, former New York Governor Andrew Cuomo , who is now also running as an independent, and Republican Curtis Sliwa in November. Mamdani has earned the backing of younger voters through persuasive social media campaigns and in-person visits with New Yorkers across the five boroughs. He's stated his support for taxing the ultra-rich, proposing a 2% tax hike on New York City residents who earn more than $1 million a year. The money from the taxes, he says, will fund programs that would make NYC living more affordable for lower-income residents. He also supports freezing the rent for the roughly 1 million existing rent-stabilized apartments across the city - the mayor of NYC can appoint members to the Rent Guidelines Board, which oversees adjustments for rent-controlled and rent-stabilized apartments. A rent freeze like the one proposed would essentially put a cap on the income landlords can generate from their properties for a set period of time. Batra says clients he's worked with for years have long invested their millions in New York real estate, growing a portfolio with multiple apartments. Now, they want out. 'They are very discouraged by everything that's going on in the news, but the consensus overall is that Mamdani is not the direction they want the city to go in,' he said. 'And this agenda is making people pause and think, 'Is this the place they want to park their money?' Most of those who do end up selling will start anew in Florida, he said. 'They like the ideologies and politics better in Florida.' Daniel de la Vega, President of ONE Sotheby's International Realty, the leading luxury brokerage on Florida's East Coast, told the Daily Mail that there's a wave of New Yorkers headed to the area looking for real estate. 'Our website traffic from the New York area increased by 50 percent in the week following the primary,' he said. 'Our agents are fielding calls from buyers actively reassessing their options, and we have seen a clear uptick in demand across our new developments. 'Many New Yorkers who are already renting in South Florida or have been sitting on the sidelines are now moving with more urgency, wanting to secure a property before another wave of migration.' De la Vega added that, working in the luxury sector, he is seeing an uptick in interest for South Florida from high-net-worth individuals and institutional investors. 'It's a range of different buyers including families, entrepreneurs and wealth managers looking to relocate operations and lifestyle permanently.' Their motivations are consistent: tax advantages, greater stability, safety and an overall elevated quality of life. They are considering options all along the east coast of Florida, and are being 'focused and intentional' about their moves. 'Florida remains a top destination because of our lifestyle, tax advantages and pro-business policies. Political shifts in other states only reinforce the appeal for some.' But as with all real estate transactions, deals take time to structure and close. 'While there's been early interest and movement, Mamdani still hasn't won, so it's too soon to say how this will play out come November,' he added. Frances Katzen, a luxury NYC broker for Douglas Elliman, says she's also had clients unsure of buying because they are 'spooked by the uncertainty' of a possible Mayor Mamdani. 'One of our clients, who has owned and rented out a condo unit in Manhattan for over a decade, recently decided to sell,' she told the Daily Mail. 'Rising operating expenses, growing regulatory uncertainty and the possibility of increased taxes and rent control made him rethink the investment. 'Another client even texted a photo of their new baby and wrote, 'Where should we go, and how much would it cost?' For Katzen, this does not spell crisis for the city's housing market. 'For many, New York still offers unmatched opportunity, connectivity and cultural vibrancy. It remains one of the world's most dynamic, resilient and desirable real estate markets,' she said. 'No matter how the election shakes out, the city has always proven its ability to adapt and thrive.'
Daily Mail
7 days ago
- Business
- Daily Mail
They're the superrich elite living in the best city in the world. Now they're flocking south... as terrifying new threat hones in on their millions
After Zohran Mamdani won the Democratic primary for mayor of New York City in June, the local real estate market . Luxury buyers started pulling the plug on purchasing apartments due to Mamdani's proposed policies, and wealthy New Yorkers who strongly disagree with his progressive politics are looking to leave the city altogether.
New York Times
15-07-2025
- Politics
- New York Times
Democrats Are Workshopping New Tactics After Losses of 2024
If there is one point of consensus in the deeply fractured Democratic Party, it's that the old ways of doing business just aren't cutting it. And so, many of the party's most analytically minded strategists have begun focusing their energies on dissecting the tactical and technical decisions that led to last year's devastating defeats, and dreaming up proposals to overhaul the machinery of progressive politics. This work is not about the big picture of what the party stands for. It is about the nuts and bolts of how to get candidates elected: which potential voters to target; whose doors to knock on, and whether door-knocking is still effective in a digital age; and when and where to advertise, whether online, on television or by mail. There is also a concern that too many of those decisions have been made by party officials on high, relying too heavily on polling to guide their choices on policy positions, messaging and advertising, and ignoring other important signals that could help influence voters. 'We need to rethink things,' said Danielle Butterfield, executive director of Priorities USA, which was once the party's premiere super PAC and spent $45 million, including its nonprofit arms, in the 2024 election. 'The same elitism that is abundant in our party exists in the way we make decisions.' Priorities USA is spending $8 million on three pilot programs this year to explore some of the surprise findings from 2024. One such finding was that some of the Democratic group's most effective ads turned out to be those that ran on YouTube channels favored by Republican voters who were seen as unpersuadable. Want all of The Times? Subscribe.
CTV News
11-07-2025
- Politics
- CTV News
‘An exciting time': Interim NDP leader says review a chance to strengthen party
Federal NDP Interim Leader, Don Davies, speaks with Alberta Primetime host Michael Higgins about the party's upcoming review and search for a new leader. This interview has been edited for clarity and length Michael Higgins: We saw you at the Calgary Stampede. What did the experience open your eyes to from a political standpoint? Don Davies: I'm an Edmonton boy and I was a Klondike Days person, so that was my first visit ever to the Calgary Stampede. It was a fabulous event. The spirit in that town, the ability to connect with people, meet them where they're at in a very fun environment, was great. It was an exciting time to be in Calgary and a good chance to learn about what people are thinking and saying in Alberta. MH: I have to think a lot of the conversation revolved around the federal election, the reduction of your caucus to seven MPs and loss of official party status. There's a lot to reflect on in the wake of the election. What's your approach to finding answers, and finding a way forward? DD: There's no question it was a tough election for the federal NDP. There's no sugar coating it, but there's a lot of great opportunity in front of us. There's a real chance for us to connect with Canadians from coast to coast to coast, and reimagine what a progressive federal option looks like for Canadians. That entails looking backwards and figuring out what caused us to get to the point we're at, but more importantly, it allows us to enter into a discussion about what ideas we have for the path forward. In that, I'm really looking forward to engaging with people across the country and building a really strong NDP. One thing I heard during the election is Canadians don't want a U.S.-style two-party system. One of the strengths of our democracy is we have a multiplicity of parties, a diversity of views. I think that makes our governance stronger. People want a strong NDP and we look forward to engaging with people to help determine what that looks like. MH: Jagmeet Singh announced his resignation on election night. You're filling the gap in the interim. So where does that leave the timeline for finding a new leader? DD: Our federal council is meeting right now. They started meetings a few weeks ago, and they're engaging in the process now. They will set the rules for the new leadership race. I anticipate it will start sometime in the fall, and I know there's already several candidates who are starting to organize. It's going to be an exciting time for the NDP to do that rebuilding process and see where we want to take our party in the 21st Century. MH: You touched on your Edmonton roots a moment ago. What do you make of grassroots support pushing Edmonton MP Heather McPherson to make a run for leadership? DD: I was with Heather at Stampede and I've worked with her for a number of years now. She's an excellent parliamentarian. She's a great representative and champion of Alberta and our country, and if she does decide to run, I think she's going to be an excellent candidate. MH: Given your role in fronting the party the past several weeks, what do you feel will be needed most in your next leader, if your party is to recover beyond the blow of the last election? DD: We've just started a review and renewal process. I don't really want to prejudge all of the ideas and thoughts that are going to come from our membership, from progressive allies, from stakeholders, but I think one thing that I've identified that I think is clear to everybody, is that we want to strengthen our relationship with working people in this country. That means meeting working people where they're at, listening to them. For instance, at Stampede, I got a got a real chance to do that and talk to a lot of different people from a lot of different occupations and professions in Alberta and hear how their lives are, and understand what their aspirations are, and what their thoughts are. I think that that's critical for the NDP moving forward, that we reconnect with our roots. We're a party that began in 1961, started by working people, for working people. I think returning to that fundamental route is really important for the path forward. MH: Pierre Poilievre, the federal Conservative leader, is pursuing a return to Parliament through our province. How much effort will your party put into the fight for Battle River- Crowfoot? DD: We have an excellent candidate nominated; Katherine Swampy. She's an Indigenous leader, she's a community activist and she's up and running already. Every election, whether it's a byelection or general election, is a chance for Canadians to have their say. I think it's really important that they always have a choice. We're a proud, long-standing democracy and people get to choose who governs them. It's a chance to have a debate about different policies and pass forward. I very much respect Mr. Poilievre, and I know the kinds of policies he's going to champion. We're going to be bringing forth some different ideas for the people of Battle River-Crowfoot, and we look forward to a rigorous campaign. MH: Where do things stand with your counterparts here in Alberta, the Alberta NDP? What does the conversation with Naheed Nenshi look like on the contentious issue of the Alberta NDP severing its ties with your party? DD: I had a chance to meet with Mr. Nenshi, and I had a chance to meet with a lot of NDP MLAs when I was in Calgary, and I can tell you I think it's very healthy to have a discussion about the relationship between the provincial and the federal sections. I understand that they resolved that at their convention. What I think is really important is that we share the same general goals. We want to build a strong Canada, we want to build strong, family-sustaining jobs, we want a good health-care system, we want to have a united, strong response to the threats coming from south of the border. Mr. Nenshi, and my colleagues in the Alberta NDP, share those. We're looking forward to working together to build a stronger Alberta in a stronger Canada, and one that works better for all Canadians. The NDP is about fairness. We're a wealthy country. We have a lot to be proud of, and we want to make sure that all Canadians have a chance to share in that.
Yahoo
05-07-2025
- Politics
- Yahoo
News analysis: What Mamdani's win may portend for Maryland
New York City mayoral dandidate Zohran Mamdani celebrates his Democratic primary victory with leaders and members of a number of city labor unions. (Photo by Michael M. Santiago/Getty Images) Maryland is traditionally a top-down state politically. Until recently, the state's political landscape has been dominated by senior Democrats, whose centrist, establishment politics continue to hold sway in the State House and in many local governments. Young, aspiring politicians are frequently told, implicitly if not explicitly, to wait their turn before seeking higher office. Even in a state legislature with Democratic supermajorities, progressive initiatives are often held at bay. So the pulses of young progressives in Maryland quickened considerably last week when a 33-year-old self-described democratic socialist, Zohran Mamdani, emerged as the unlikely victor in the Democratic primary for mayor of New York City and is now the frontrunner in the November general election. And the Democratic establishment and donor class, in the city and beyond, are assessing whether to embrace Mamdani and his movement or continue strategizing for ways to suppress it. 'It's certainly an exciting moment because it's a people-powered victory very clearly – an underdog story,' said Montgomery County Councilmember Kristin Mink (D), a leading progressive voice in local and state politics. 'Any time we see a number of people engaged and able to defeat big money, it's important to take note of that.' It's hard to extrapolate much from a single local election – especially one in such a unique environment as The Big Apple, where Mamdani's principal primary opponent was the uniquely flawed former governor, Andrew Cuomo. But pundits across the political spectrum are calling the primary results an earthquake – and earthquakes can have reverberations far from their fault lines. As the 2026 election cycle heats up in Maryland, and as Democrats here and nationally continue to reel from the 2024 election and its profound implications, it's worth examining whether Mamdani's message and winning coalition provide some lessons that can be applied here. A parade — of speakers — and a hint of rain at annual Hoyer bull roast, but no hints on his plans Mamdani's victory was partly generational and partly ideological. The state assemblyman from Queens had an expansive economic agenda that focused on affordability and the New Yorkers who are struggling to survive in a hyper-expensive city. He highlighted proposals for rent freezes, free transit, affordable child care and government-sponsored grocery stores in food deserts, among others. Mamdani's thoroughly modern campaign, fueled by nontraditional media outreach, produced an array of responses from Maryland political leaders on social media last week. Lt. Gov. Aruna Miller (D), a fellow Indian-American, offered congratulations on X to Mamdani 'and everyone who fought alongside him. You stood up for the underdog – and won.' Ian Miller, a 23-year-old member of the Baltimore County Democratic Central Committee who has frequently clashed with party insiders, on Facebook called Mamdani's victory 'the Gen Z Obama moment.' Former U.S. Rep. John Delaney (D) offered a more nuanced analysis on X, recognizing Mamdani's appeal to 'base' Democratic voters, but asking, 'How do people reconcile the fact that (more centrist) Andrew Cuomo's campaign was funded by mega donors and he won the low income neighborhoods and (more progressive) Zohran's campaign was grass roots and he won the wealthy neighborhoods?' Some national political analysts said they saw Mamdani's victory as reflecting economic jitters across all classes – and the pent-up frustrations of younger Democrats who don't see senior party leaders standing up to President Trump and other MAGA Republicans. Do some of the same conditions exist on the ground in Maryland that helped propel Mamdani to victory? Where can political parallels be drawn between New York and the Free State? Larry Stafford, executive director of the group Progressive Maryland, said New York voters produced results that have already been evident in pockets of Maryland in recent years. 'I see this victory as part of a trend that's emerging,' he said. 'Like a lot of movements, first it goes forward, then it stumbles back, then it moves forward again.' There is no question that Maryland is in the midst of a generational shift politically. It began with the departures of Attorney General Joe Curran (D) and Comptroller (and former governor) William Donald Schaefer (D) following the 2006 election, and has accelerated with the retirements of multiterm U.S. Sens. Barbara Mikulski (D) and Ben Cardin (D), the deaths of record-serving House Speaker Michael Busch (D) and Senate President Mike Miller (D), the defeat of four senior members of the state Senate in 2018 Democratic primaries, and the retirements of three Democratic members of Maryland's U.S. House delegation last year. SUPPORT: YOU MAKE OUR WORK POSSIBLE The state made history in 2022 by electing its first Black governor and attorney general, its first female state comptroller and its first woman of color to serve as lieutenant governor – each considerably younger than their predecessors. Two of the state's new members of Congress, Reps. Sarah K. Elfreth (D-3rd) and Johnny Olszewski Jr. (D-2nd), are 36 and 42, respectively. Brandon Scott was the youngest mayor of Baltimore ever elected in 2020, when he was 36 years old. With the swearing in of a new member last month, the 11-person Prince George's County Council now has five millennials, led by full-throated progressives Ed Burroughs (D) and Krystal Oriadha (D). Four years ago, there were none. 'I think that's to the benefit of the county because we have a younger population,' said Councilmember Tom Dernoga (D), who is 66. 'I think it's better that we reflect the population than with older folks like me, and I'll be retiring soon so I'll be replaced by someone younger and we'll be skewing even younger.' There have been distinct progressive victories in Democratic primaries over the years in Maryland – some representing significant upsets – though they haven't necessarily changed the overall political arc of the state. One such political victory came in 2006, when constitutional law professor Jamie Raskin ousted veteran Montgomery County state Sen. Ida Ruben in the Democratic primary. Now a congressman, Raskin has since become an icon of the left nationally. Another came in 2018, when former NAACP president Ben Jealous, a lifelong progressive activist and Bernie Sanders acolyte, defeated more established Democratic politicians in the primary for governor. Jealous' victory came on the same night that a 27-year-old bartender named Alexandria Ocasio-Cortez shocked a top congressional Democrat, Rep. Joe Crowley, in the New York Democratic primary – so Jealous never quite got his due, especially after losing the general election that year. 'The national landscape never took note of that victory as much,' Stafford said. That same year, an avowed democratic socialist, Marc Elrich, was elected Montgomery County executive, narrowly defeating a self-funding multimillionaire in the process – and narrowly beating him again in a rematch four years later. Prince George's voters recently elected a longtime political outsider, Aisha Braveboy (D), as county executive – though it remains to be seen if she will govern as far to the left as some of her allies on the county council would like her to. Potential 2028 presidential hopefuls Moore, Walz steal show at South Carolina Democratic weekend Gov. Wes Moore (D) won election at the age of 44, with big ideas to alleviate childhood poverty, create an equitable economy and tackle generational challenges like climate change. But constricted by budgetary challenges, some of his own cautious impulses, and institutional roadblocks in Annapolis, the governor has found that transformational change isn't all that easy. Stafford predicted that Maryland progressives will take the winning formulas of certain successful candidates, along with Mamdani's, and apply it to the upcoming election cycle – and to working with allies inside and out of government. 'It will look different than it has in the past,' he said. 'The coalitions will look different.' Mink, the Montgomery County councilmember, said she believes progressive policy progress can be achieved more easily at the local level than in the State House, because there aren't so many powerful forces working in opposition. 'It's much easier to secure a people-powered win at the county level,' she said. One 2026 Democratic candidate who is already making the generational case against a long-time incumbent is Harry Jarin, the small business owner and volunteer firefighter who is challenging 86-year-old U.S. Rep. Steny Hoyer (D-5th), the longest-serving Democrat in the House of Representatives. Asked in an interview last week whether Mamdani's victory emboldens him, Jarin replied, 'Hell yes, it emboldens me.' Jarin said that even if Mamdani's policy prescriptions didn't appeal to every voter, 'he tapped into that insecurity that a lot of younger voters feel and the feeling that establishment Democrats haven't done anything to address it. It's voters rejecting the status quo, just as they did in November when they elected Donald Trump. And right now, the establishment Democrats are the status quo.' Hoyer has not yet said whether he will seek a 23rd full term next year, and several elected officials, including some with close ties to the veteran lawmaker, could jump into a race to replace him. But Jarin said he's ready to pivot if circumstances change without having to change his strategy. 'Even if he does drop out, I expect he'll try to shove some other establishment Democrat with no real-world experience down our throats,' Jarin said. 'To me, this has never been just about age. For me this has always been about the need to reconnect the Democratic Party with the working class electorate it has lost ground with and continues to lose ground with. 'It makes no difference if my opponent is 86 or 31. My message will be the same: We need people with experience away from the political system to serve in office,' he said. Another key race where Mamdani's playbook could come into play is in the Democratic primary to replace Elrich as Montgomery County executive, where Councilmember Will Jawando (D), who is running with Elrich's endorsement, is almost certain to stake out multiple positions to the left of his principal opponents – who by most standards are pretty liberal themselves. 'The path to success is through people power,' said Mink, who has also endorsed Jawando's bid for executive. 'People are very hungry for electeds whose words, whose actions, whose opinions match the urgency of what's happening on the ground. There's important lessons to be learned from New York.' – Maryland Matters news partner WTOP News contributed to this report.
