Foreign buyers seem to be following Zohran Mamdani’s cue – and fleeing American real estate

The pullback comes even as a weaker U.S. dollar should have made American real estate more attractive to overseas buyers — a contradiction that mirrors what wealth advisors and immigration specialists have been describing anecdotally for months: a historic reversal in which the ultrawealthy are rapidly falling out of love with the U.S. as an investment destination. Perhaps the most striking data point buried in the report: New York, long a fixture among the top five state destinations for international buyers, has fallen out, replaced by newer entrants New Jersey and Georgia. Matt Christopherson, the NAR’s Director of Business and…