Friday, March 5, 2021

Why New Yorkers keep moving to Florida.


Lower taxes, better weather, and the coronavirus are driving nearly a thousand people a day to come to Florida, according to the Miami 2020 report. According to the Daily Mail, and citing The New York Times, during the coronavirus pandemic hundreds, nearly thousands of Americans are reportedly moving to Florida every day as entire families leave cities in upstate New York, New Jersey, and Connecticut.


The reason?  Even though "everything is more expensive" in the Sunshine State, the interest rates on properties are not so high compared to the rest of the cities in the north of the country.


The environment propitiated by the pandemic paralyzed prices so much so that, for example, in counties such as Palm Beach, new contracts for single-family homes over $1 million experienced a 268% increase compared to the same date last year.


According to The Daily Mail, since COVID-19 began, the so-called "rich end of the market" expanded "in major South Florida markets," as well as in Tampa and St. Pete.


Experts believe that the possibility of a second wave of COVID-19 also plays a role in this movement of approximately 950 people daily. What better place than Florida, with its warm temperatures, to pass the disease?


The reality is that home sales in some parts of Florida have more than doubled since March 2020, in what they call an "unprecedented demand."

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