Donald Trump Jr. is sounding the alarm on what he calls New York City’s looming decline under Democratic leadership.
Appearing on “Fox & Friends,” the businessman and political commentator warned that the city’s future could be in jeopardy if state Assemblyman Zohran Mamdani—now the Democratic nominee for mayor—wins in November.
In his view, Mamdani’s progressive platform and housing proposals would accelerate an economic unraveling already underway.
“You hate to see New York, the birthplace of Wall Street … go down in flames, but perhaps that’s the lesson we all have to see,” Trump said on “Fox & Friends,” adding that a potential collapse might serve as a warning to the rest of the nation.
“If the rest of the country watches New York fail—and I believe it will—under these disastrous ideas, maybe that’s what we need to stop the spread of this disease.”
Trump, who has long positioned himself as a defender of his family’s business legacy, connected his remarks to his father’s decades-long role in shaping New York’s skyline.
“My father spent his entire life changing the skyline of New York City, employing tens of thousands of people. But as you saw and as you watched, that didn’t stop them from going after him,” he said. City leaders have “made it impossible for people to do business if you don’t toe the line with their radical Democrat policies.”
Eric Adams is endorsing Andrew Cuomo for mayor, according to the New York Times, a move that adds new tension to the race as Cuomo seeks to reclaim political footing against the Democratic front-runner and Republican contender Curtis Sliwa.
A high-stakes housing battle ahead
Mamdani, a state assemblyman and the Democratic nominee, has made housing affordability the centerpiece of his campaign. He pledges to freeze rent on all rent-stabilized units and fast-track more affordable housing developments.
Among other changes, voters on Nov. 4 will face three ballot questions aimed at accelerating the approval of new-housing construction: two measures to create an expedited review process for affordable or modest projects and a third to establish an appeals panel to override City Council rejections.
“All three measures are steps in the right direction,” according to Realtor.com® senior economist Jake Krimmel.
He explains that the current system favors large developers and punishes smaller ones because the seven-month Uniform Land Use Review Procedure and multiple veto points make many worthwhile projects unviable. The new processes would reduce review times to one or two months, allowing qualifying projects to be approved by the City Planning Commission without full council review.
Supporters say streamlined reviews would encourage smaller-scale development and affordable housing in underserved areas, while opponents counter that the changes would weaken public oversight and community input.
For example, critics worry that a loophole for modest projects might be exploited in low-density neighborhoods. While the reform effort is technical, its implications for income, development, and neighborhood change are major.
The policy contrast and what’s at stake
In this context, Mamdani’s real estate and housing agenda looms large. Alongside his rent-freeze proposal, he has pledged to pull down city-owned sidewalk sheds that have lingered for years in Manhattan, calling them part of what makes the city feel like “a concrete jungle gym.”
This anchor issue complements his broader affordability platform, which places pressure on landlords, developers, and the regulatory system alike.
Trump’s warnings echo those of Fox News host Sean Hannity, who recently predicted a “mass exodus” from New York if Mamdani wins, claiming that companies will flee to Florida to escape “burdensome regulations and high taxes.”
If Mamdani’s policies take hold, supporters argue they could finally cut through New York’s red tape to deliver affordable housing faster and fairer than ever before.
However, critics argue that freezing rents and bypassing the City Council could undermine investment and hinder the private sector.
For the housing market, the stakes could not be higher. If the ballot reforms pass and Mamdani executes his agenda, the city could see a surge in affordable housing construction—but also rising tension over financing, neighborhood character, and who ultimately benefits.
At its core, this race in New York will decide who pays for housing, who builds it, and how the city adapts to affordability, growth, and regulatory change.
In that frame, Trump’s claim that New York may “go down in flames” if Mamdani wins may sound dramatic—but it captures just how high the stakes have become for the city’s future.