The Fox News Rundown Business Rundown: How The "Mamdani Effect" Is Already Shaking Up The Real Estate Market
Nov 3, 2025
Katrina Campins, a Fox Business real estate contributor and host of Mansion Global, dives into the impact of the upcoming New York City mayoral election on the real estate market. She discusses the 'Mamdani Effect,' revealing a surge in demand from New Yorkers eyeing tax-friendly states like Florida and Connecticut. Katrina highlights the political allure of rent freezes, despite economists' warnings. She explains how policies influence buyer behavior and regional bank stability, while forecasting potential trends in mortgage rates and property demand.
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Policy Can Shift Where People Choose To Live
- Zohran Mamdani's platform (higher taxes and rent freeze) is already changing migration and market expectations.
- Real estate agents report calls from New Yorkers exploring moves to CT, Westchester, and Florida.
Wealthy Buyers Returning To Palm Beach
- Katrina Campins compares current wealthy migration to the COVID-era surge into Palm Beach and Connecticut.
- She reports ultra-luxury buyers paying all cash and setting local price records.
Freeze Risks Are Bigger Than Standard Rent Control
- Campins explains rent freezes amplify typical rent-control risks by halting increases on ~30% of apartments.
- She warns this reduces developer incentive, upkeep, and long-term housing quality.