There's No "Mamdani Effect"

A few weeks ago I went viral. A 35 second TikTok video I posted disputing the so-called "Mamdani Effect" has over 107,000 views, 10,000 likes, 1,295 comments, and 431 saves to date. These numbers blow away my normal engagement rates.

In the video I ask this question: if all the rich people were leaving New York City (because of the mayor-elect), why were 33 contracts for homes priced $5M+ signed the previous week? I obviously hit a nerve.

It's TikTok, so a high percentage of the commentators disputed these facts for various reasons. It's the many positive comments that resonated with me. People who love New York really love it. They appreciate its vastness, energy, diversity, opportunity, and style.

Time has proven me right. There hasn't been a stampede of residents (wealthy or otherwise) fleeing the city. We still don't have enough inventory, prices haven't dropped (if anything, they're up slightly), and the $5M+ market is still strong.