Mamdani Exodus to Palm Beach Is an Exaggeration: Jonathan Levin

Critics of New York City mayoral candidate Zohran Mamdani say he would be great for Palm Beach real estate. Investors Daniel Loeb and Bill Ackman have shared the sentiment on X, and Florida’s Republican Governor Ron DeSantis went so far as to say that a Mamdani mayorship would push up Palm Beach home prices by “another 20%.” The implication, apparently, is that the self-described democratic socialist will drive the rich out of New York with new taxes and turn the home of Wall Street into a far-left hellscape.

Not only is that a speculative leap, but it defies logic: Florida’s ...