The prospect of Zohran Mamdani becoming New York’s next mayor – and his promises to raise taxes sharply on wealthy city dwellers – has some in Florida expecting another mass migration to the Sunshine State that could drive up house prices to levels not seen since the pandemic. Florida Governor Ron DeSantis has publicly predicted that a win by Mr. Mamdani, a democratic socialist who has repeatedly declared his distaste for the rich, will spark a rush of moneyed New Yorkers to Florida, and see prices in tony enclaves such as Palm Beach rise as much as 20 per cent. If the predictions of another migration out of the city are correct, Mr. Mamdani may run out of wealthy people before he has the chance to run out of their money.
Author: Gus Carlson
Published at: 2025-10-19 19:37:19
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