We're not seeing much of it in Texas -- yet, but people are moving out of New York City, and one of the reasons is the expected tilt toward "democratic socialism" now that Zohran Mamdani has been elected the new mayor.
One place those New Yorkers are going is Florida. The CEO of Miami real estate giant BH Group says, “This unknown in what’s coming, and the fact that Mamdani said loud and clear what he’s going to do and what he believes is the right thing for New York, made a lot of people very nervous.”
It's among several appeals to New Yorkers who want to find a new home.
The Houston Police Officers Union two weeks ago invited New York City law officers to come to Texas for work, writing in a social media post, “NYPD, are you disgusted with the election of Zohran Mamdani? Join us!”
Volusia County, Florida Sheriff Mike Chitwood last week invited those who want to flee the Big Apple's expected shift toward a radical political agenda to move to his county, where they would be welcomed "with open arms."
Here in Texas, the markets are good, not great like they were a year ago if you're a seller, but if you're a buyer there are more bargains, and the stress of buying has calmed down a little because it's a "buyers' market."
Greenlight Offer Real Estate's Sean Zavery says the overall market is a little slower.
"Properties are not selling at the rate they were selling earlier this year, I would say first and second quarter were very strong.
"But it's still a good market because at least we're in an affordable state..."
Markets have been cooling in Austin, San Antonio and Dallas, though Houston is still doing pretty well.
"They're selling but just taking a few more days on the market, a little more outreach, a little more proactiveness rather than reactiveness."