Real Estate

Miami's Magnetic Appeal: Real Estate Market Rockets Amid Mass Migration from Democratic States

Florida's real estate market, particularly in Miami, is experiencing significant growth due to an ongoing exodus from high-tax Democratic states, driven by positive word of mouth and the city's reputation for safety.

Date:
May 8, 2023
Est Time:
5
Minutes

Florida's real estate market, particularly in Miami, is experiencing significant growth due to an ongoing exodus from high-tax Democratic states, driven by positive word of mouth and the city's reputation for safety.

The real estate market in Florida, especially Miami, is experiencing significant growth as an increasing number of people move away from Democratic-led states, with Marc Roberts, a District 11 pioneer, indicating that the trend shows no signs of abating.

"It's remarkable that Miami is not just maintaining its momentum but actually accelerating. Property values are climbing, businesses are relocating, and we're merely in the early stages of this phenomenon. We're witnessing a massive departure of businesses and individuals seeking jobs and new homes. It's an exodus unlike any other," said the E11EVEN co-founder on "Mornings with Maria."

Last year, Florida saw the largest number of new residents arriving from high-tax blue states, with around 319,000 Americans making the move, according to National Association of Realtors data. This led to a population increase of nearly 2%, significantly higher than the 0.4% national growth rate in the U.S. between July 2021 and July 2022.

Roberts believes that the extraordinary migration is primarily driven by the positive reputation of the Sunshine State.

"Miami is defying the national trend, the driving force behind this exodus is word of mouth. People who come to Miami and spend time there can't help but share with their friends how amazing it is, recounting the wonderful experiences they've had with their families, and the high quality of life Miami offers," Miami World Center and E11EVEN co-founder Marc Roberts said on Thursday.

He also said "Nothing promotes a place better than word of mouth. The buzz around Miami stems from people sharing their incredible experiences."

The ongoing crime wave across the nation has prompted some blue-state residents to search for safer cities, and Roberts emphasized Miami's safety as one of its key attractions.

"What stands out about Miami is its safety. Police Chief Manuel Morales is doing an outstanding job, and both the mayor and the commission are exceptional advocates for the city's progress. Everything about Miami is operating at full capacity," he shared with host Maria Bartiromo.

In discussing the commercial real estate market, Roberts described Miami as a "unique case" compared to the rest of the United States.

"A few speculative office buildings have been developed and are rapidly being occupied. Even more triple-A office spaces are being constructed due to the growing demand. Miami is an exception in the national landscape," he contended.

Roberts wrapped up with an audacious forecast for Miami's booming District 11, which has seen impressive expansion in recent years.

"The area is flourishing and is poised to become the epicenter of Miami, effectively making it the focal point of Florida and, by extension, the world," Roberts envisioned.

SOURCE: https://www.foxbusiness.com/real-estate/pioneer-miami-real-estate-booming-after-blue-state-exodus-never-seen-before

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