Realtors Say They're Already Seeing the 'Mamdani Effect' in Action: 'It's Not Good'

[rangerrebew]

Realtors Say They're Already Seeing the 'Mamdani Effect' in Action: 'It's Not Good'
 
Hey, remember all those rich people who were supposed to pay for the free stuff that New York City Mayor-elect Zohran Mamdani promised voters? I've got good news and bad news for you.

The good news is that real-estate agents who cater to those who can afford to leave the city -- and who don't deal with real estate in the city -- have been having a really great week.
 
You can probably guess what the bad news is.

In the least surprising news since soap was discovered in someone's shower, both real estate agents and media outlets are reporting that upper-class New Yorkers are looking to decamp the city, even to Connecticut -- not precisely a place known for low cost of living or taxes.

But it is known for one thing: being Mamdani-free, something that makes it livable without having to pay through the nose for the privilege of getting mugged by someone who probably won't even be arrested by the social worker dispatched to deal with the situation, if Zohran gets his way.

https://www.msn.com/en-us/money/realestate/realtors-say-they-re-already-seeing-the-mamdani-effect-in-action-it-s-not-good/ar-AA1QdqaF?ocid=widgetonlockscreen&cvid=2d4a4d8a6ee44e3cf413abbfb9ceb7ad&ei=32

[Weird Tolkienish Figure]

Well if it brings down housing prices that may not be a bad thing.

[DefiantMassRINO]

That's one way to make housing affordable.  Mission Accomplished!

[andy58-in-nh]

However, if you are looking for a home in Florida right now (as I am) the potential flood of New Yawkahs is likely to drive prices up, not down.

[Wingnut]

However, if you are looking for a home in Florida right now (as I am) the potential flood of New Yawkahs is likely to drive prices up, not down.

Keep an eye on the Obit's in the town you are looking to move.

[andy58-in-nh]

Keep an eye on the Obit's in the town you are looking to move.

Yep. That's one of the things that the brokers said. We're still pretty undecided on exact location, though. We just need to get out of this Democrat-dominant, high-tax and expensive region of the country.

[Wingnut]

Yep. That's one of the things that the brokers said. We're still pretty undecided on exact location, though. We just need to get out of this Democrat-dominant, high-tax and expensive region of the country.

Lived in Tampa and traveled Fl extensively for my job early in my career.  Just remember that further south you go in FL the more northern it gets. 

We like living in the LA portion of the panhandle. My kinda people here. Conservative. Love our guns. God fearing folk.... you know, rednecks.

[Luis Gonzalez]

Lived in Tampa and traveled Fl extensively for my job early in my career.  Just remember that further south you go in FL the more northern it gets. 

We like living in the LA portion of the panhandle. My kinda people here. Conservative. Love our guns. God fearing folk.... you know, rednecks.

Built just West of Zephyrhills nearly 10 years ago, so far into the undeveloped portion of East Pasco that we had deer and boars walking around in the neighborhood streets for about a year after construction. Since then, textually thousands of homes and apartment/condos have been built.

I am now surrounded by displaced New Yorkers who want to eliminate all gators from our neighborhood lakes and ponds, BUT most of them came here to get away from the cost of living increases and general policies impacting them back in the city, AND they are right wing leaning or at least old-school JFK Democrats who think their Party has gone bonkers.

As you drive North from the City to my neck of the woods, you will see a 100' tall flagpole flying the Stars and Bars over I-75.



It's solid Trump Country here, and I feel right at home.

[Wingnut]

Built just West of Zephyrhills nearly 10 years ago, so far into the undeveloped portion of East Pasco that we had deer and boars walking around in the neighborhood streets for about a year after construction. Since then, textually thousands of homes and apartment/condos have been built.

I am now surrounded by displaced New Yorkers who want to eliminate all gators from our neighborhood lakes and ponds, BUT most of them came here to get away from the cost of living increases and general policies impacting them back in the city, AND they are right wing leaning or at least old-school JFK Democrats who think their Party has gone bonkers.

As you drive North from the City to my neck of the woods, you will see a 100' tall flagpole flying the Stars and Bars over I-75.



It's solid Trump Country here, and I feel right at home.

I remember Zephyrhills. No one went there! We built our 1st home near the big city of Lutz,  Just a few miles south of Pasco Co line and Land-o-lakes.  Far away from the hussle and bussle of Tampa traffic and the I-4 (the now)I-275 cluster F of an interchange.  And you are correct about the counties north of Hillsborough county in the center part of the state. Lots of flags.  USA and Confederate. No Pride flags.  When you heard gun fire no one blinked.  It was probably Bubba just sighting in his rifle for hunting season or killing some varmints and running off some hippies. 

[Luis Gonzalez]

I remember Zephyrhills. No one went there! We built our 1st home near the big city of Lutz,  Just a few miles south of Pasco Co line and Land-o-lakes.  Far away from the hussle and bussle of Tampa traffic and the I-4 (the now)I-275 cluster F of an interchange.  And you are correct about the counties north of Hillsborough county in the center part of the state. Lots of flags.  USA and Confederate. No Pride flags.  When you heard gun fire no one blinked.  It was probably Bubba just sighting in his rifle for hunting season or killing some varmints and running off some hippies.

First year we lived here I could hear gunshots at night all the time.

Then there were no more visible boars.

[catfish1957]

Not really...  I know better. 

[Bigun]

However, if you are looking for a home in Florida right now (as I am) the potential flood of New Yawkahs is likely to drive prices up, not down.

I would invite you to Texas but everything here sticks or bites and it gets really hot!

[andy58-in-nh]

I would invite you to Texas but everything here sticks or bites and it gets really hot!

Texas is a great state, with terrific music, food and people.  But I've been there in the summertime and by comparison, it makes Florida seem like Alaska. 

[Wingnut]

Texas is a great state, with terrific music, food and people.  But I've been there in the summertime and by comparison, it makes Florida seem like Alaska. 

Moved to Dallas during the heatwave of 1980.  At the time it set a record for the most consecutive days over 100 degrees.  I think the record was broken a few years back.  Anyway Ice was near impossible to find.  All the rich people in Highland park were buying it up and dumping it in their cement ponds!  It was so hot I would leave my car running with the A/C on to dash into a store.  Night wasn't much better with low's in the high 80's. 
One of the local FM stations started a daily Dashboard lunch menu.  Wrap your uncooked lunch of beef, pork, chicken in foil and place it on your dash.  At noon you had a fully cooked meal.  Hotdog were not recommended because they had a tendency to explode blowing the foil out and the juices would run down the defrost vents.

[DefiantMassRINO]

The real trouble will be for financial firms when mortgagees start walking away from their mortgaged properties because it's no longer worth it for them to continue making the mortgage payments.

In 2008, many homeowners just walked into their mortgage lenders and handed them the keys to the house.  It was best finacially to default on the mortgage and let the lender worry about their underwater home.

[GrouchoTex]

I would invite you to Texas but everything here sticks or bites and it gets really hot!

Sorry, @Bigun, but Texas is full. 

[Luis Gonzalez]

Sorry, @Bigun, but Texas is full. 

 

So is Florida.

BUT if you have a good nest egg and are ready to retire someplace tropical, I would seriously look at Cape Coral.

Tons of foreclosures and walkaways from people who came South and bought at the height of the market and interest rates.

Then there's the hurricane thing...

[Wingnut]

Also be on the lookout for Canadians looking to dump their winter homes.  They can't afford Fl any longer.  The exchange rate is aboot 60 canadian cents to the US dollar.  Personally I have enjoyed the lack canucks up here in the Redneck Riviera.  They can't drive. They don't tip. They are cheapskates, and they always ask for a discount.

[andy58-in-nh]

So is Florida.

BUT if you have a good nest egg and are ready to retire someplace tropical, I would seriously look at Cape Coral.

Tons of foreclosures and walkaways from people who came South and bought at the height of the market and interest rates.

Then there's the hurricane thing...

@Luis Gonzalez

We are very interested in the area around Fort Meyers, which is rather close to Cape Coral. It is a beautiful locale, and you can find houses/townhouses/condos for what we would consider rather reasonable prices.

The insurance costs, though... can be insane... owing of course to the ever-present threat of tropical nastiness. For that reason, we're looking a bit further inland, but hell: it's not all that far a drive from the beach.   

[Luis Gonzalez]

@Luis Gonzalez

We are very interested in the area around Fort Meyers, which is rather close to Cape Coral. It is a beautiful locale, and you can find houses/townhouses/condos for what we would consider rather reasonable prices.

The insurance costs, though... can be insane... owing of course to the ever-present threat of tropical nastiness. For that reason, we're looking a bit further inland, but hell: it's not all that far a drive from the beach.

Any interest in the Space Coast?

Places like Sebastian, Satellite Beach or further North Brevard County? Those are my old, salad days stomping grounds and (even inland a bit) are still pretty awesome.   

[Luis Gonzalez]

Also be on the lookout for Canadians looking to dump their winter homes.  They can't afford Fl any longer.  The exchange rate is aboot 60 canadian cents to the US dollar.  Personally I have enjoyed the lack canucks up here in the Redneck Riviera.  They can't drive. They don't tip. They are cheapskates, and they always ask for a discount.

Yeah... some of the local Z-Hill eateries we frequent have commented on the Canucks not showing up in the same numbers that they had prior to 47, and there are TONS of mobile homes for sale everywhere.

But while the restaurateurs complained, the waitstaff just said that not having Canadian's absence won't impact their tips much.

[andy58-in-nh]

Any interest in the Space Coast?

Places like Sebastian, Satellite Beach or further North Brevard County? Those are my old, salad days stomping grounds and (even inland a bit) are still pretty awesome.

We're looking a bit further south on the Atlantic side... say, from Vero Beach down perhaps as far as Jupiter.  I did like Melbourne, though I haven't been there in quite a few years.

[Luis Gonzalez]

We're looking a bit further south on the Atlantic side... say, from Vero Beach down perhaps as far as Jupiter.  I did like Melbourne, though I haven't been there in quite a few years.

Stay out of Port St. Lucie... the taxes are NUTS.

[berdie]

@Luis Gonzalez

We are very interested in the area around Fort Meyers, which is rather close to Cape Coral. It is a beautiful locale, and you can find houses/townhouses/condos for what we would consider rather reasonable prices.

The insurance costs, though... can be insane... owing of course to the ever-present threat of tropical nastiness. For that reason, we're looking a bit further inland, but hell: it's not all that far a drive from the beach.

From what I have read, insurance companies are fleeing the state. So if you can get it, it will be really high. Heck, the prices are high here as it is.

[Luis Gonzalez]

From what I have read, insurance companies are fleeing the state. So if you can get it, it will be really high. Heck, the prices are high here as it is.

If you want to own coastal property anywhere you will pay high insurance.

I’m more inland than I’ve ever been because of that, and the cost to build a house was better than  down by Don-Johnson-in-unstructured-Italian-T-shirts part of the state.

[Fishrrman]

I lived in Florida as a kid, 1960-61. Largo and later Paradise Island (that's just off Treasure Island on the causeway to St. Petersburg).

Looking back on the time there, it was nothing special to me, although I remember the flashy signs of the Publix markets. Florida seemed just... well... flat.

As I've gotten older, I can't tolerate the heat as I used to. Over 75F, and I'm "hot" already.
So... no more "south" for me. The furthest "south" I would want to live is southern Pennsylvania (heh). Or possibly West Viirginia.

Actually, the best place I've ever been to, anywhere, is in North/Central PA. I won't mention its name in public, but I will tell you it's along the Route 6 corridor. Visiting there is like stepping off that commuter train into Willoughby... (old Twilight Zone episode)

[Wingnut]

If you want to own coastal property anywhere you will pay high insurance.

I’m more inland than I’ve ever been because of that, and the cost to build a house was better than  down by Don-Johnson-in-unstructured-Italian-T-shirts part of the state.

I LOL'd at that.    Funny, but true.  “People in stucco houses shouldn’t throw quiche.”

[andy58-in-nh]

From what I have read, insurance companies are fleeing the state. So if you can get it, it will be really high. Heck, the prices are high here as it is.

Believe it or not, the differential in property taxes from New Hampshire will likely more than make up the difference.

Even if my insurance in Florida was $4,000 a year and property taxes were, say $3,500... it would be far less than what I'm paying now for property taxes alone. New Jersey is the only state that currently has higher property taxes than New Hampshire.

We'll have to do our homework, nonetheless.

[Wingnut]

From what I have read, insurance companies are fleeing the state. So if you can get it, it will be really high. Heck, the prices are high here as it is.

But but
Well, somewhat true.  Depending on where you live.  State Farm has returned. But depending on where you live.  The Cue tip governor, Chuck Crist set the HO insurance debacle in motion.

[Luis Gonzalez]

I LOL'd at that.    Funny, but true.  “People in stucco houses shouldn’t throw quiche.”

Hahahahaha!!!!

[Wingnut]

Believe it or not, the differential in property taxes from New Hampshire will likely more than make up the difference.

Even if my insurance in Florida was $4,000 a year and property taxes were, say $3,500... it would be far less than what I'm paying now for property taxes alone. New Jersey is the only state that currently has higher property taxes than New Hampshire.

We'll have to do our homework, nonetheless.

Depending on where you live will dictate your taxes and insurance and flood insurance.  I live 1 mile from the Gulf of America, and 200 feet from the Choctawhatchee bay.  If shit gets real I am screwed.  But I still have reasonable HO rates.  They did increase but not enough to make me think about leaving.  But in FL YMMV.

[Luis Gonzalez]

Believe it or not, the differential in property taxes from New Hampshire will likely more than make up the difference.

Even if my insurance in Florida was $4,000 a year and property taxes were, say $3,500... it would be far less than what I'm paying now for property taxes alone. New Jersey is the only state that currently has higher property taxes than New Hampshire.

We'll have to do our homework, nonetheless.

About that.

https://www.youtube.com/shorts/WRXLutQkdOs?feature=share

[Bigun]

Believe it or not, the differential in property taxes from New Hampshire will likely more than make up the difference.

Even if my insurance in Florida was $4,000 a year and property taxes were, say $3,500... it would be far less than what I'm paying now for property taxes alone. New Jersey is the only state that currently has higher property taxes than New Hampshire.

We'll have to do our homework, nonetheless.

WTH happened to the "Live Free or Die" state?

[Wingnut]

WTH happened to the "Live Free or Die" state?

NYC moved there.

[libertybele]

@andy58-in-nh  FL has become very expensive to live.  $3,000+ for property taxes isn't abnormal -- and there are those that pay over $10,000 for insurance. It depends on the area, but FEMA has made new boundaries for flood zones and that is what the insurance companies are going by now.  Also, the age of the house really has an impact on insurance.

We were fortunate to get in at the very start of "Save Our Homes" and we have a cap on how much they can increase our property taxes; however that is per year.  Taxes sure as heck haven't gone done and yes insurance is at a premium and companies are leaving but new companies are coming in.  We've been lucky so far our taxes have remained pretty steady... it's the flood insurance (if you take out a mortgage you have to carry it) that's gone through the roof.  BTW there is no definitive word on FEMA as to if they will be able to cover those insured or even if they are going to remain solvent. 

IF we were younger and in good health, we'd be heading out of FL and looking at Northern Georgia or TN, ,maybe the Carolina's; all have really grown so having to visit and check out an area would obviously be prudent and you have to check to see if those states are tax friendly for retirees in particular tax brackets.  FL has better tax advantages over most -- but  if Trump's 'no tax on social security' becomes reality, then it changes the picture a bit.

[libertybele]

NYC moved there.

Truth.

[IsailedawayfromFR]

We're looking a bit further south on the Atlantic side... say, from Vero Beach down perhaps as far as Jupiter.  I did like Melbourne, though I haven't been there in quite a few years.

My brother lives in Melbourne and is recently retired.

I want him to return to Texas but am unsure if he is interested

[Luis Gonzalez]

My brother lives in Melbourne and is recently retired.

I want him to return to Texas but am unsure if he is interested

We keep talking about going back to Melbourne. It's home to me.

Not sure that you'll get him back to Texas.

[jafo2010]

I lived in Florida for 5 years, from Dec 78 to Mar 83.  I loved it.  A bit inland in the Brandon area.  It was very comfortable living.

Having traveled back to Florida many times since, the congestion is beyond belief.  Florida has been flooded with people, and it is extreme.

My dream was to own a canal house where I could park a sailboat out back, and hop aboard and sail off for the day, week, etc.  We flew down to Ft. Myers, and looked primarily in the Port Charlotte area.  1/4 acre lot was $152,000, and last I looked, he is asking $250,000 for a lot in one of those subdivisions that started in the 80s, and has only about 25% of the lots developed.  But the view and the sunset were spectacular.  This was before the last couple hurricanes that tore up the countryside destroying everything in their path. 

The house next to the above lot had a couple who were both in real estate.  In talking to him, he said his property insurance climbed up to $9,000 per year after the last hurricane, and that did not include flood insurance.  I decided that dream had to remain a  dream until I hit the Power Ball.

For those of you in Florida wanting cooler temps, we ended up buying a mountain home on a lake, the msot beautiful lake I have ever seen in the USA in North Carolina.  Paradise is not a strong enougn word for this place.  There are 13 houses in our gated community, the friendliest people I have ever known.  A third of them are from Florida and come multiple times through the year to escape the Florida heat. 

Check out    lakehomes.com     Our house is at Fontana Lake.  The county has a population of 10,000 people.  The beauty and tranquilty are unlike any where I have ever been, and I have seen just about every state in the union but a couple.

[Smokin Joe]

Texas is a great state, with terrific music, food and people.  But I've been there in the summertime and by comparison, it makes Florida seem like Alaska. 

Well, there's North Dakota, but it isn't 'beachy' here, and when we have winter, it makes parts of Alaska seem like Florida.

[Luis Gonzalez]

I lived in Florida for 5 years, from Dec 78 to Mar 83.  I loved it.  A bit inland in the Brandon area.  It was very comfortable living.

Valrico maybe?

Rented a house there while we built the one we’re in. I don’t think that you can even imagine the growth since 83.

[Bigun]

Sorry, @Bigun, but Texas is full. 

  Full of these GD windmills and solar farms!!! 

[Bigun]

I lived in Florida for 5 years, from Dec 78 to Mar 83.  I loved it.  A bit inland in the Brandon area.  It was very comfortable living.

Having traveled back to Florida many times since, the congestion is beyond belief.  Florida has been flooded with people, and it is extreme.

My dream was to own a canal house where I could park a sailboat out back, and hop aboard and sail off for the day, week, etc.  We flew down to Ft. Myers, and looked primarily in the Port Charlotte area.  1/4 acre lot was $152,000, and last I looked, he is asking $250,000 for a lot in one of those subdivisions that started in the 80s, and has only about 25% of the lots developed.  But the view and the sunset were spectacular.  This was before the last couple hurricanes that tore up the countryside destroying everything in their path. 

The house next to the above lot had a couple who were both in real estate.  In talking to him, he said his property insurance climbed up to $9,000 per year after the last hurricane, and that did not include flood insurance.  I decided that dream had to remain a  dream until I hit the Power Ball.

For those of you in Florida wanting cooler temps, we ended up buying a mountain home on a lake, the msot beautiful lake I have ever seen in the USA in North Carolina.  Paradise is not a strong enougn word for this place.  There are 13 houses in our gated community, the friendliest people I have ever known.  A third of them are from Florida and come multiple times through the year to escape the Florida heat. 

Check out    lakehomes.com     Our house is at Fontana Lake.  The county has a population of 10,000 people.  The beauty and tranquilty are unlike any where I have ever been, and I have seen just about every state in the union but a couple.

I've never lived in Florida but used to visit relatives over in the Cocoa Beach area regularly (NASA people). The fishing was fantastic back then, but I never really liked it. I'll stick to my native Texas!

[andy58-in-nh]

@andy58-in-nh  FL has become very expensive to live.  $3,000+ for property taxes isn't abnormal -- and there are those that pay over $10,000 for insurance. It depends on the area, but FEMA has made new boundaries for flood zones and that is what the insurance companies are going by now.  Also, the age of the house really has an impact on insurance.

We were fortunate to get in at the very start of "Save Our Homes" and we have a cap on how much they can increase our property taxes; however that is per year.  Taxes sure as heck haven't gone done and yes insurance is at a premium and companies are leaving but new companies are coming in.  We've been lucky so far our taxes have remained pretty steady... it's the flood insurance (if you take out a mortgage you have to carry it) that's gone through the roof.  BTW there is no definitive word on FEMA as to if they will be able to cover those insured or even if they are going to remain solvent. 

IF we were younger and in good health, we'd be heading out of FL and looking at Northern Georgia or TN, ,maybe the Carolina's; all have really grown so having to visit and check out an area would obviously be prudent and you have to check to see if those states are tax friendly for retirees in particular tax brackets.  FL has better tax advantages over most -- but  if Trump's 'no tax on social security' becomes reality, then it changes the picture a bit.

@libertybele

Thanks for all of that good information!

Our alternative consideration for retirement is in the Carolinas or Tennessee.  Specifically, that would be Greenville, or Traveler's Rest, S.C. , or somewhere in Eastern Tennessee (Knoxville area).

I am very familiar with North Carolina since I used to work there for parts of each year and I've traveled through the state, but I am very concerned with what's happening there politically and culturally (it seems to be going "blue").

[Bigun]

@libertybele

Thanks for all of that good information!

Our alternative consideration for retirement is in the Carolinas or Tennessee.  Specifically, that would be Greenville, or Traveler's Rest, S.C. , or somewhere in Eastern Tennessee (Knoxville area).

I am very familiar with North Carolina since I used to work there for parts of each year and I've traveled through the state, but I am very concerned with what's happening there politically and culturally (it seems to be going "blue").

The part of N.C. where it bumps up against West Virginia and Tennessee is fantastically beautiful. At least it was before the storm a couple of years ago. I'll bet there are still some real estate bargains to be found in that area.  If I could be persuaded to ever leave Texas, it would be for that part of West Virginia. @andy58-in-nh

[andy58-in-nh]

WTH happened to the "Live Free or Die" state?

@Bigun

Massachusetts moved in and brought their baggage with them.

We also moved here from Mass. in 1997, but the idea was to get the hell away from crazy taxes and liberal lunacy.

Eventually, it followed us home.

[Bigun]

@Bigun

Massachusetts moved in and brought their baggage with them.

We also moved here from Mass. in 1997, but the idea was to get the hell away from crazy taxes and liberal lunacy.

Eventually, it followed us home.

Some say it was Vermont moving in that did it but I'll take your word for it.

[andy58-in-nh]

Some say it was Vermont moving in that did it but I'll take your word for it.

Vermont itself was invaded by New York and California during the 1980's and 1990's.

Ben & Jerry's Hippie Army moved in, and conservative, old-line Yankees made a beeline for New Hampshire (or Florida).

Old cities like Burlington became a haven not only for aging Grateful Dead fans, but also for hordes of middle-aged women who wear plaid shirts and work boots.

[Idiot]

Full of these GD windmills and solar farms!!! 

[IsailedawayfromFR]

We keep talking about going back to Melbourne. It's home to me.

Not sure that you'll get him back to Texas.

Well, he does have 7 of his 10 siblings still living in Texas.