Looks like Zohran has a shot based on recent prediction market trends. Will be an unmitigated disaster for the city if he wins. Might have to get the fuck out of here. Know a lot of our real discretionary incomes have been declining for a few years now. This guy can only make it worse.
Trending Content - Off Topic Forum
Career Resources
Based on the most helpful WSO content, there isn't specific information about Zohran or the NYC mayoral race in the dataset provided. However, discussions around political shifts and their impact on cities often highlight concerns about policy changes affecting discretionary income, real estate markets, and overall economic conditions. For example, NYC's real estate market has been described as a "runaway train" in recent years, with some suggesting that political shifts could lead to structural changes or even a slowdown in growth.
If you're considering leaving NYC due to potential policy changes, it might be worth exploring cities with strong economic fundamentals, insatiable demand, and limited supply, such as Miami, which has been highlighted for its affordability relative to other major cities and access to foreign capital.
Sources: How will the results of the election affect Wall Street and the overall economy?, New NYC MF regulations, Will commercial RE be up down or flat in major cities/markets in 5 years?, What US city will see the most residential appreciation over the next 15 years?, The New-New Normal | The Daily Peel | 4/27/22
Surprised there is not more discussion about this, would be a nightmare if Zohran was elected
So much of nyc depends on these socialist programs that anyone pandering can have a serious shot of being elected
Half of my family escaped from a place that had government run grocery stores. Hint, they didn’t leave out of the abundance of food there…
It's like stores in the entire city. And we already pay for it thru grocery subsidies.
Guys - relax. Hochul already said there’s absolutely no chance she’ll allow a tax increase to happen. Rent freezes? Also not happening as he needs the state and city council for that. Most of his radical proposals are not realistic.
If anything, more housing and free buses seems great. Current rents in NYC are completely out of control.
No chance he opens up zoning for market rate housing though, he only wants affordable new development, which goes back to how the hell is he going to pay for it? Getting rid of parking minimums would be a great win though.
The rent board controls rent freezes which is appointed by the mayor.
Hochul can say that if she wants but the state likes to increase taxes on NYCs wealthy. And she is not popular and will probably be primaried.
Ranked choice with Cuomo, Adams, and him on the ballot in November would be very interesting.
November isn't ranked choice
I really hope he wins. I'll support any voting decision that hastens the flight of top financial firms & corporations to MIA/DAL and accelerates the decline of NYC/SF. He's exactly what the people of NYC deserve and would be a cherry on top to the clown show sundae of the last 2 mayors. I'm particularly interested in watching how the city is handles electing a Muslim & vocal Hamas sympathizer (it's clearly done wonders for London over the past decade), whose core propositions are nothing but poorly presented ideas lifted directly from a loose understanding of Karl Marx and CT with no thought given to feasibility of execution e.g. the government running at-cost grocery stores because "food is too expensive", make things free, lower police presence despite increasing crime, etc. LMFAO
He’ll struggle to enact anything and get comprised 2 years in anyway. Running a socialist or social democratic platform in the World’s eminent financial hub is not going to make any progress.
Nothing ever happens
You're probably right, but I'll keep on hoping. Unless I'm forced to move to NYC in which case I switch to a Cuomo hopeful lol
If he does get elected I'd bet you there will be a flight of major FIs to Florida and the tax base will collapse another 10-15%.
It’s still a step in the wrong direction for a city that is horribly run and in desperate need of reform (I love NYC)
My beautiful city. How could this happen? This hurts beyond belief.
Getting nothing done is not a great outcome either. City is a disaster
Fuck that. Please stop moving to Florida and Texas
I'm fine with the businesses coming but agreed, NYCers can sit and stew lol
Capitalism doesn’t work for the masses
Capitalism is the reason there ARE masses you ignorant sow. Name just 1 example of an entirely socialist developed society that is economically successful, doesn't suffer from food shortages, widespread poverty on par with developing nations, and has any semblance of human rights. You won't, because there are none.
Spoken like a true 21 year Ivy League grad with a trust fund
Being Anti Israel and a good politican are not mutually exclusive.
In fact, most people don't support Israel. So your comment is absurd.
What does supporting Israel have anything to do with what I said? He is explicitly pro-Hamas. You can disagree and even hate Israel's government and still not be a public terrorist sympathizer. Your comment isn't absurd, it's just dumb.
Myself and a bunch of friends have a similar hope that the industry moves and we are so sick and fucking tired of NYC, we're about 4 years in and almost all of us moved to NYC right before or during COVID. Maybe I don't know what it was like before, but the city is just pathetic and does not, in any way shape or form, live up to the "greatest city for arts, culture, food, nightlife, blah blah fucking blah" comments of the last 10-20 years and I find myself wondering if we're even talking about the same city...
Work (and the comp) has me by the balls but if a chunk of the large corporates in NYC moved functions and offices to Florida / Texas I actually would not mind the move at all. I was in Florida a few months back and was so close to staying I started looking at jobs and real estate.
Texas is unlivable, humid and congested.
Other than affordability, there is nothing in Texas that beats NYC.
This post by David Friedberg sums it up nicely - https://x.com/friedberg/status/1937593902456099315
I don’t agree with you on many things, namely the idiot in the Oval Office, but I do agree with you here. The US and its citizens have drank way too much of the “more government/more debt” koolaid and are now addicted. We need a city to overdose and be an example of why too much dependency on the government does not work. I thought SF was going to be the example, but maybe NYC will get there first or better yet maybe we’ll have 2 examples. Unfortunately, I think most people will probably blame the collapse of these cities on the rich and argue more government was needed.
Damn the first round looks horrible for Cuomo. It's literally over for NYC. Bankers are the most oppressed people in the country.
We’ll see what happens in the general election in November. Cuomo already will be running as an independent in the general.
Zohran ran a campaign basically begging young white college grads to vote in the primary - but the general election will almost certainly have a better turnout for Cuomo, as his voter demographic is older and less active in primaries.
Zohran won Hispanics.
Also the moderate dem types that Cuomo tried to get tend to vote. Older black voters vote in high numbers in primaries.
Enjoy more halal carts on every corner of Manhattan
“Bankers are the most oppressed people in the country”
If the Silver Spoon Socialist wins, his voters get what they deserve. To the rest of you, read about the Russian Revolution (1917).
Prediction markets at 100% zo. Haha great
If you’re actually happy about this…no words.
Unless you live in NYC (in which case my condolences), how can him winning be seen as anything other than a good thing? Let the big legacy T1 cities reckon with the utterly asinine politics they've promoted and allowed to fester. The rest of the country will benefit from the fallout and at least the current admin is certainly not going to bail them out. I recently visited Singapore and China for travel/interviewing and holy cow do their cities make ours look like dog shit. Gotta let them fail and collapse under their own idiocy if you want to rebuild.
Well my fund was going to move me to the gulf anyway. I thankfully now make enough that his tax policies would make a dent in my earnings…I’ll make my analysts work in the NYC office and go to roadshows and the like
So long America, it was fun. I’ll always love your standardised form fillings.
You will probably enjoy the Gulf. It’s basically a slave state. Today’s version of a South Carolina cotton plantation in 1850. If you keep possession of the passports and work documents of your household help, it’ll be just like owning slaves.
a nightmarish place.
Nothings gonna happen , he’ll get bogged down in bureaucracy and have another painfully New York mediocre mayoral term.
Nothing ever happens.
To you and the guy below, nothing happening is a fucking disaster. No housing will continue to be built. Really a tragedy.
Nothing will happen due to the bureaucracy but are we surprised this is the result? Vast majority of people in NY are struggling - not people on 250k/yr+ income. The stuff he says is actually appealing to that demographic.
Tbh not sure what’s so bad about him lol. I mean he’s populist af but so was trump when he campaigned. If you put aside Middle East politics and his inexperience / age: don’t think it’s that bad. Bad if you’re rich af tho and taxes go up but 99% of NY literally don’t care about the 1% lol.
General understanding of economics got me😂
No one is disputing that. The question is what actually helps those people. Mamdani doesn't actually have a plan for that, he just has sloganeering. He's actually quite like Trump in that way - promise anything and everything, and I'm certain when he realizes that he can't actually do any of it, he'll blame some sort of shadowy cabal of insiders as well.
It would be AMAZING if he could build a million homes as he promised. If he had a plan to fund them, to cut red tape to expedite their approval, etc. Anything other than what he did, which was take Adams' number and double it.
Democrats need politicians who can make modest promises and deliver on them, not pie in the sky moonshots or whatever and then fail miserably, eroding trust in the ability of government to get anything done.
This is spot on. He just says a whole lot of stuff that would appeal to your classic extreme left. All am saying and I think we all agree on this is that we can understand why what he says resonates with the majority of NY people. People don’t care about feasibility but at least the shit this guy says is ideologically aligned with what they think. I mean he could do fck all with the money but “tax the 1%” is always music to an extreme leftists ears.
Let me help you out there Oz.....he is then going to blame the Jews.
That's hilarious because Cuomo won by double-digits the cohort that makes under 100k. The socialist dominated the college / upper-income demographic.
It's the white liberal champagne socialists and middle income (largely the young & dumb) folks who support him. People with low income or from minority groups who struggle the most and would stand to potentially benefit the most from his proposals are a blow out in supporting Cuomo.
Hey, it’s hard living in Park Slope.
Can anyone fact check this? This is damning if true and it certainly supports your narrative, but I've been unable to verify. Source? Thank you!
If you're on a 250k income, you're not going to be affected by his tax policies directly.
No but you will be living in a hellscape. Whoever thinks the subway / transit / crime situation won’t get worse is insane.
Whoever comes back with stats about crime being lower needs to open their eyes. Does anyone feel great on subway right now? People who feel the city is in good shape are IYOs (intellectual yet idiot)
Does the November general election have a run off if no reaches 50%? That seems like the only way Mamdani could lose.
Cuomo will have an actual chance in November. Primaries are almost always decided by the most fringe members of a party, so it may actually not be the end of the world that a joke of a candidate won the primary. No one will vote for Adams, and since Sliwa is also a joke to everyone with fewer than half a dozen cats, I think Cuomo may attract a lot of crossover voting from Republicans.
Kind of sad that the best NYC can do is a corrupt machine politician and a moron, but... that's life in 2025.
Cuomo kisses the Jewish ring. Mamdami just needs to visit Israeli and he's in. Policies no different than every other communist democrat. He just doesn't support Israeli bombing the crap out of women and children.
Glad to see all the anti-semitic right wing nutjobs are coming back to WSO! Feels like old times...
I love all the economically illiterate commentary. This comment section is filled with peak finance bro behavior
“Economically illiterate commentary.” Let me simplify it for you. Rich people like to stay rich, and won’t stay someplace where being rich is harder than in another place.
Eh, I would argue that while some would certainly relocate, and have, there are a number places in the world where that doesn't apply.
NYC is, of course, near the top of the list. You can't get the NYC urban experience anywhere else in America, at the very least. Same with California and the weather. Certain areas have sticking power because of their unique appeal.
Do you realize the highest marginal income tax rate in the 60s was 90%+ on income over what would equate to $3M USD today and people still lived in cities with high state taxes? Silicon Valley has infinite billionaires and millionaires and for SOME ODD REASON they haven't all moved to Florida or Texas or whatever shithole state you want to name. Maybe Joe Rogan or Ben Shapiro can convince you that these places are paradise, but they are not. Wealth inequality is nearly as bad as during the industrial revolution and you're shilling for billionaires!
No, I’m shilling for Capitalism, the least terrible economic system we’ve got, which has lifted more people out of poverty than any other, as someone who’s family witnessed the results of policies such as those proposed by Mamdani. My family didn’t flee a place with government run grocery stores out of the abundance of food.
Sometimes, you just have to shove your head further up your ass to understand why pulling it out would be better.
You need to realize first and foremost that the USA is not a capitalist country. We provide federal subsidies to farmers in Iowa when there are bad crop yields, homeless guy goes to the emergency room and racks up $100k bill, you and me are paying. In 2022, California got $0.83 per dollar it sent to the Federal govt., Mississippi received ~$2.60. If we lived in a real capitalist society then antitrust law would not exist, and there would be many more J.D. Rockefellers in the sense that one person/company controls an entire industry. You neglect the fact that this style of government fails to deliver adequate outcomes for the vast majority of people (spare me the argument that a minimum wage worker today has access to cleaner water than a king 200 years ago). The reason people like Mamdani win (and trust me, I have my qualms with the guy) is because they deliver on what people want and actually convey even 1% that they are looking out for their best interests and trying to help them feed their families. Reagan failed! and trickle down economics do not work despite the lies Republicans perpetuate.
If you actually looked at who voted for Mamdani, you would see a far different story.
In the short term, Mamdani could be a boon for the analyst class!
Long-term his policies would fuck NYC
Dude, what's your point? You can make $100k in NYC and still feel like you're drowning considering the cost of living, especially if you have dependents. Also, at what point can we just blame Cuomo for running a shitty campaign (relatively speaking)? Mamdani employed social media, incentivized people to canvas for him, and presented a good attitude in doing so. As I previously said, I have many many gripes with the guy, but we fail to realize that most people will simply vote for the person that comes to their neighborhood and shows he cares, which Cuomo evidently did not do.
Cuomo went everywhere. Look at the actual statistics I presented. I know very well what it’s like to live in NYC in the $100k range. I worked hard, survived, and made something of myself. Point being, look where Mamdani drew the most support. Gentrified neighborhoods like Williamsburg, Park Slope, and Bushwick. Ever price property in Park Slope? These people aren’t struggling!
Oh please cut the shit. Cuomo did not "go everywhere".
Every single one of Mamdani's competitors ran on the basis of "just vote for me I have experience and will visit Israel".
They ran the laziest, tone-deaf, boring, unengaging campaigns I've ever seen and were unable to escape their histories of corruption (Adams) and being a woman molester (Cuomo).
The people of NY really had a ton of great options huh...?
There are no great options. Sad commentary on the state of our politics.
Silver lining is something like 900k total people voted out of (I'm going to get the number wrong) like 10M eligible voters?
Generally sad that this country has so many people with such loud opinions (from young adults to old heads to influencers and podcasters) yet voter turnout remains pretty shit.
Because people are wrapped up in their own lives and often ignorant about how things like this can impact their livelihood. Also, many young people are just completely uneducated and uninformed aboru history, etc.
Cuomo infamously didn't go everywhere lmao.he would drive to one event speak for 5 minutes and leave after. Reporters have been upfront that he just ignored most events.
Also Mamdani didn't just win transplant lol. He won with Hispanics.he won Inwood.
Yeah, real man of the people. Really fighting for the working class here, pal. Source: NYT.
Black people overwhelmingly voted for Cuomo. What's your point? Are you really convinced that young white professionals voted for Mamdani because they feel some sense of guilt for being born in good circumstances? NO, they feel disillusioned by what they are seeing around them and want something DIFFERENT THAN THE STATUS QUO. Or maybe it was just Emily Ratajkowski posting him yesterday... While we disagree on a lot, can we just agree she looks amazing for 34???
Why don’t you actually read every statistic I posted? Had a little more to say than just black people, pal. FYI, this data is from the NYT.
I read the whole thing, one of the central points is that "Black voters were the only racial group to break clearly and decisively for Cuomo" and aside from that "Mamdani was not the choice of the city's working-class voters." I very much acknowledge the disconnect that this article excerpt conveys, but I don't think it invalidates the points I previously made. Moreso, all of this highlights the importance of apt political strategy that Mamdani clearly had. I would encourage you to listen to his appearance on the Bloomberg Odd Lots podcast, but there is still a good chance he does not become mayor anyway. Let's agree to disagree except for the emrata thing lol. p.s. thanks for always being pro-israel on here, we're outnumbered!
Always happy to be a proud Jew, genuinely thank you for that. My only point is that whatever strategy Mamdani had, his base wasn’t exactly broke. To say (like some people on here did) that it’s about how unequal wealth is when one of his strongest performances was in Park Slope of all places is pretty ridiculous.
And yes, she does look fantastic.
If you think of history as a continuum, you might realize that while capitalism can be the best system at a certain point in time in a country's history (ex. china in late 20th c.), it needn't stay that way forever. The monumental hollowing out of society we are witnessing right now is a product of capitalism, and it isn't sustainable. Even many right-wing thinkers realize this (read up on accelerationism). It is totally anti-intellectual to believe in capitalism because "muh better than anything else"
If you believe that the ideal society is a post-scarcity society, where nobody has to work and everything can be provided by a few people maximally leveraging technology, you cannot simultaneously believe that capitalism is the be-all end-all economic system because capitalism will always require work for work's sake. Think of how people work more now than 50 years ago despite a vast amount of technological improvement.
This is a wonderful point. And another being ignored by certain posters (ahem, @GordonGekko87) are the very real-world examples of modern countries succeeding with more hybrid capitalist/socialist systems. Namely, Denmark, Sweden, Finland, Iceland, Germany, Netherlands, Canada, UK, Australia, etc.
As an aside, what's common among the specific countries I named above? All but one has a happier surveyed population compared to the U.S.
Also the saying don’t understand econ and then not understanding agglomeration factors and how hardly anyone will leave nyc cos of it
Y'all are so transparent. You deny that taxes impact people's behavior, except, of course, for tobacco taxes and tariffs--then, of course, taxes/tariffs directly impact behavior.
(1) There is evidence from past studies showing that excise taxes on cigarettes are effective, specifically 10% price increase leads to 4-6% decrease in consumption (Chaloupka & Warner, 2000) (2) Tariffs, like excise taxes, are a regressive tax but the fact that tariffs are levied on virtually all goods, and not the particularly undesirable ones that the tax payer ends up paying for anyway (via Medicare), make tariffs worse (3) Consumption is significantly more elastic than migration
You missed the entire point with this bizarre, rambling statement. The point is, the Left consistently denies that taxes impact people's behavior, but they viscously fought for high tobacco taxes to curb consumption of tobacco. Why? Because they know taxes change people's behavior. The problem is, the Left are ideologues who treat their ideology like a religion, so when their religious beliefs run counter to the facts, they exchange truth for lies. For example, "raising taxes to a 90% marginal rate will not change behavior and will instead lead to higher tax revenues." You know this isn't true but you still push it anyway because your beliefs are pagan religious beliefs.
You say my statement is rambling, but I am just acknowledging that taxes do change behavior. My added point is that taxes are more impactful on consumption (e.g., cigarettes) as compared to migration. Also, I don't think the highest marginal income tax rate should be 90%+, I just brought that up as a historical example. However, today the highest Federal marginal rate is 37% for single (married) earning over $600k ($730k), and I think it's silly that there's no delineation in marginal tax rates between people clearing $600k vs $10M+. With regard to my supposed "pagan religious beliefs," I hope you stop projecting fallacies about people that don't agree with you.
Ok, you don't need a long screed to say, "Yeah, tax rates do change behavior." Your poor communication skills need to be addressed with your junior high and high school teachers.
Thank you for demonstrating the validity of what I said
Love watching rich entitled folks forget that there’s many more of the poor and struggling than there are them. How long do you think this discrepancy between the wealthy and poor will be accepted. There so few who hold so many resources, you’ve done such a bad job at capitalism that socialism sounds like a good idea. Fools who killed the golden goose. You can only fool people so long, people are going hungry and homeless, your arguments for free market capitalism will fall on deaf ears especially since America hasn’t really ever experimented with socialism unlike the folks in South American countries who know it’s not all peaches and rainbows. You rich people need to take off your green eye shades and appease the masses before it’s too late and your bunkers won’t save you
The amusing thing is, of course, that most of people who are actually wealthy already know this and are just seeing how long they can get away with it, accumulating wealth and assets while they can. The loudest advocates of the status quo are the aspirational, who think that one day they'll wake up as one of the "self-made" billionaires. They'll defend the status quo on an ideological basis.
Those of us who’ve done well for ourselves (as I have) who admittedly aren’t a Bezos or Zuckerberg, still recognize that flawed though our economic system is, it is the least terrible option available to us. You people have no perspective.
Agreed. THey are retards and have blindly trod the path well travelled their entire lives.
Yeah…this is a load of bullshit. If you actually look at the polling, Cuomo overwhelmingly received support from women and minorities. Geographically, much of Mamdani’s support came from Brooklyn, demographically, it was concentrated amongst college-aged white men. This isn’t about the proletariat rising against those with money, it’s about entitled trust fund babies in Williamsburg and Bushwick who, being averse to work themselves, have no purpose in life besides being ashamed of the fact that they grew up wealthy, while, of course, whining to their parents for money. Research Ella Emhoff for one, she was particularly vocal about supporting Mamdani.
I can stomach rational political debates, but as someone who had to work his ass off to establish a career and livelihood, being lectured to about my (hard earned) “privilege,” by someone who grew up in Greenwich whining about how awful society is while spending their parents money in Brooklyn, I will not accept.
"We're the least bad option" is not a winning campaign slogan, sadly.
Some of you guys really need to understand what socialism is. Point out where in his policies he wants the state to own all means of production and where he wants a centrally planned economy. He’s left wing sure. But all his policies are in the capitalist framework.
Nothing will change in nyc. NYC is still the city to be in for finance and connections and that’s not changing anytime soon. Most of you here are analysts anyway you will not be affected at all banks are not leaving. Get back to aligning logos.
The agglomeration factors of nyc are absolutely vital. And you can’t get that anywhere else.
Now take a chill pill. Nothing will change. Get back to excel and ppt
Found the Brooklynite.
Haha valid. I’m honestly not stressed at all it’s a mayor it’s not a federal position. This will be chill nothing wjkl change and there will be a lot of populist posturing
Judging by the username, he probably hawked Sunnova securitizations until the company declared bk.
Autem fuga natus molestias nostrum. Accusamus ea et numquam provident dolores dignissimos suscipit. Temporibus vel quia incidunt repellendus nemo sit. At vel odit modi. Et aliquid molestias exercitationem omnis sed deserunt. Eveniet qui nisi accusamus aspernatur temporibus est unde. In quasi vel ab iure aut dicta magnam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Nobis vel vel veniam a doloribus. Aut adipisci architecto et laudantium qui. Qui dolores omnis voluptatem maxime odit eos. Et iusto qui quo incidunt id tempore. Qui odit debitis sed nostrum quia. Debitis nihil nulla sapiente quia autem est aliquam.
Est illo molestiae eum ex rem ipsam. Ducimus cumque tempora illum officia. Amet optio aut ducimus voluptate facere ut nulla laudantium.
Commodi deleniti omnis et cum enim autem quidem. Consequuntur explicabo rerum nulla. Odio asperiores officiis sunt sed sunt corrupti. Sed repudiandae nemo animi velit eaque. Dolorum pariatur veniam ut qui.
Ea animi deserunt laudantium sit voluptate commodi. Distinctio officiis provident et ipsum deserunt officia. Ut est distinctio dolorum dignissimos repellat deserunt. Ducimus doloribus doloribus nostrum consequatur et voluptatem. Ullam sequi quibusdam maxime velit illo numquam rerum.
Rerum nesciunt ratione ab autem. Eligendi voluptatem ad illum qui pariatur vero natus. Ut aliquam quia iste non non in. Eveniet rerum aut incidunt.
Ad voluptas deserunt et rem sunt. Ut dolore mollitia et placeat rem non alias.
Odio quia numquam quo eveniet autem natus. Dolor omnis illum doloribus adipisci velit hic cupiditate molestiae. Aut eos dolores rerum aut reiciendis. Cupiditate eius ea vitae veritatis esse sed. Tenetur voluptatibus maiores sed voluptatem officiis. Illum molestiae velit autem. Dicta incidunt ipsum praesentium.
Possimus est sit qui facere vel quaerat. Dolore sed ullam autem minus velit. Eum et suscipit et deserunt.
Veritatis dolorum nobis dolorum et libero aut quibusdam delectus. Quo veritatis in non iste possimus. Ut aliquid repellat quis occaecati doloremque ea sit.
Molestiae eligendi quaerat qui. Aut iure quasi reiciendis soluta. Rerum eius et voluptatem ut et iure.
Numquam occaecati labore odit sunt dicta vero. Numquam magni reiciendis velit et aspernatur adipisci voluptas. Aliquid officia delectus animi consequatur. Voluptas velit dolor natus mollitia consequuntur blanditiis voluptatem.
Quis voluptatum inventore accusamus ratione enim voluptas libero. Accusamus consequuntur cumque in temporibus excepturi ipsum minus ab. Voluptatem repellat minus quasi amet. Amet voluptates omnis omnis. Aut consequuntur officiis assumenda.
Voluptatem optio provident id aut omnis perspiciatis asperiores incidunt. Eaque adipisci quisquam corporis reprehenderit. Est quis quia commodi dicta quia iure neque. Nobis velit sequi cumque ea dolor officia iure. Nemo consequatur veritatis iste deleniti rem numquam.