Real estate experts Dolly & Jenny Lenz discuss affordability issues and the state of residential real estate.
Mother-daughter real estate experts Dolly and Jenny Lenz are warning that if Democratic socialist Zohran Mamdani wins the New York City mayoral race this fall, the Big Apple could see an outward migration of residents.
“There’d be no building,” Dolly Lenz told FOX Business on ‘The Claman Countdown’ on Tuesday. “We’re getting so many calls … from people who say, ‘Look, if [Mamdani’s] in, I’m out.’ They’re going to vote with their feet, they’re going to list their apartments, and they’re moving.”
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Mamdani’s campaign has been centered around making one of the country’s most expensive places to live more affordable for residents. His proposals call for multi-year rent freezes and a massive investment in public housing.
Real estate experts Dolly and Jenny Lenz are warning that if Democratic socialist Zohran Mamdani wins the New York City mayoral race this fall, the Big Apple could see an outward migration of residents. (FOX Business / Fox News)
However, the Lenzes said those proposed rent freezes could bring New York City’s housing market to a halt, and noted they already have clients gearing up to leave the city in preparation for the real estate climate under Mamdani.
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“They’re going to Greenwich, to New Jersey, to Florida,” Dolly Lenz told FOX Business. “They are not going to be here.”
New York City mayoral candidate Zohran Mamdani speaks to members of the media during a press conference in New York City, U.S., August 22, 2025. (Reuters/Jeenah Moon / Reuters)
The most popular affordable destinations people are moving to are still lower-tax states like Texas and Florida. Many Californians are also flocking to Las Vegas, Nevada, according to the two experts.
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“Given all this Mamdani news, a lot of people are certainly on it,” Jenny Lenz said.
A billboard in Times Square promotes an anti-Zohran Mamdani message, New York City, New York, Tuesday, July 15, 2025. (Fox News Digital / Fox News)
Mamdani — who defeated former New York Governor Andrew Cuomo in the Democratic primary — has an 81% chance of victory this November, according to data from Interactive Brokers reviewed on Wednesday.
“He’s winning by a lot,” Jenny Lenz said.
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Over the last week, Mamdani’s odds have remained above 75% with his main challengers struggling to gain traction. Cuomo has the next best odds with a 20% chance of winning the mayoral race, per the Interactive Brokers market.
Zohran Mamdani did not immediately respond to FOX Business’ request for comment.
FOX Business’ Eric Revell contributed to this report.
