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s the New York City mayoral contest intensifies, affluent residents are already planning exits. Democratic Socialist Zohran Mamdani, who stunned voters with a June primary win, has sparked worry among high earners due to his broad housing and tax agenda that would overhaul the city’s real‑estate and fiscal priorities. In Florida—especially Palm Beach County—real‑estate agents report a surge of wealthy New Yorkers, especially from Westchester and Manhattan, eyeing relocation or expansion in the Sunshine State. “I’ve seen more New York buyers in the past year, especially from Westchester,” says Johnny DelPrete of The Exclusive Group at Douglas Elliman. Rising demand aligns with growing unease over Mamdani’s proposals: a multi‑year rent freeze, a $100 billion push for affordable housing, fast‑tracking 100 % affordable developments, and a 2 % income tax on those earning over $1 million. While tenants rally, higher‑income homeowners are scouting alternatives. Westchester agents report a 15 % jump in contracts since the primary, and Palm Beach agents like DelPrete field steady inquiries from clients seeking a backup plan. “Most of my New York clients say it’s lifestyle first,” he explains. “Weather, beaches, year‑round outdoor life. Taxes matter, but quality of life without losing easy New York access is key.” The influx strains an already tight inventory. Palm Beach, a 16‑mile barrier island 65 miles north of Miami, sees multiple‑offer battles where two of three buyers walk away empty‑handed. “They’re not price‑sensitive,” DelPrete notes. “If they love a property, they act fast and are willing to pay.”
realestate
Mamdani Effect Drives Growth in Palm Beach Real Estate
Wealthy New Yorkers head to Florida, fearing progressive housing and tax plans in NYC’s mayoral race.
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realestate
Local Govs Target Vacancy Taxes & Transfer Fees as New Levies
Colorado city and county leaders seek next year's legislation to allow them to propose new taxes to voters.
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realestate
Ex‑real estate agent arrested for alleged $1M theft
Woman alleges $900K theft; attorney says agent spent it on first‑class flights and luxury hotels—one of many cases.
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realestate
Fayette County Jury Awards $5.3M to Victim in EasyKnock Dog Attack Case
Fayette County jury awards $5.3M to woman attacked by dogs at EasyKnock property, holding company 99% responsible.