Nearly six months after Mamdani’s election, however, there’s enough distance to judge how those warnings have held up so far.
Though only four months into the new mayor’s term, most of the evidence points to the same conclusion: the widely anticipated exodus has failed to materialize.
One of the strongest indicators of whether people or businesses are actually fleeing from a city is the housing and real estate market.
Today nearly every indicator points to the opposite problem: demand is running hot and supply is lagging badly, especially when it comes to housing.
Despite ample evidence to the contrary, warnings of a mass exodus have persisted and even intensified in the first months of Mamdani’s term.
If businesses are planning to escape from New York in the near future, they certainly have a funny way of showing it.
Originally planned as an eighty-three-floor office tower, the latest plan is now a dozen stories higher, indicating a strong demand for office space. »