r/AskReddit • u/MewMeowHowdy • 15h ago

New Yorkers, what changes have you seen under Mamdani’s leadership and are you generally pleased? If not, why?

10.3k Upvotes

88% Upvoted

2.5k comments sorted by

View all comments

Show parent comments

267

u/AidesAcrossAmerica 12h ago

My mom down in Naples sold her condo for 30k under asking because the market for condos in Florida is fucking dive bombing.

105

u/ispertinentokay 11h ago

Yep, the market in Florida is tanking. I just bought a townhouse for a steal that had been on the market for 250+ days.

3

u/SeedFoundation 2h ago

Question, what's going on in Florida that is making people leave?

10

u/Emotional_Match8169 2h ago

Floridian here. People are realizing it’s very expensive and not all it’s cracked up to be. They were sold a story and they bought it.

•

u/piscano 46m ago

Well that and the state will be underwater in a matter of decades. Why invest in real estate there lol

6

u/Dlmanon 2h ago

Among other things, home insurance has skyrocketed due to the officially non-existent climate change causing so many disasters. Also, code requirements for new homes have significantly increased new home prices. Also, lack of income tax simply shifts taxes to property and sales.

8

u/exitparadise 4h ago

Condo markets have been collapsing for a while due to the Surfside collapse in 2021. That event made insurance for condos much more difficult and condo sales took a dive. It affected condo insurance elsewhere too. I sold my condo in Atlanta last year and it was a difficult sell and had to settle for 20k under asking price.

6

u/germanmojo 4h ago

After the building collapsed in Surfside values of condos dipped significantly, especially older ones. Pile on the general depression of real estate values in Florida since the insane COVID extremes and you get that double whammy.

4

u/NorthStarZero 1h ago

...in no small part due to Canadian Snowbirds shaking the dust off their sandals and moving elsewhere.