2023 Intrastate migration numbers are in, just released at census.gov. Rather unsurprisingly, the post Covid trend continues. TX & Florida are once again #1 & #2 when it comes to net intrastate migration gains. * Blue states, that tended to be high lock-down & are high-tax, keep losing population. (This is an observation, I am a registered independent). The top five population losers were all blue states.The two winners (TX & FL) have no state income tax. The two biggest two losers (CA & NY) have among the highest levels. I do not report on this with any personal joy, I grew up in NYC. It is what it is.
Trump won. What does this mean for Florida & Miami real estate?
Trump won the election, what does that mean for South Florida & Miami real estate?
Journalist Brian Bandel asked me that question the day after the election. And this is what I told the South Florida Business Journal: (published November 6)
“Given the team that he has assembled, most notably Elon Musk, I believe that a Trump presidency will be aligned with entrepreneurs and creators,” Bozovic said. “Since South Florida is attracting tax payers and creators, our housing market will be further super charged by an administration that fosters entrepreneurship.”
And I stand by every word of that. Furthermore, I feel that a subconscious pause has been lifted in the aftermath of the election. The next wave forward is about to commence.
And note: I am compiling October numbers. As per my thesis, the SFH market continues to hit all time highs. End user product within proximity of the urban core is a strong play.
I was also in this article the Daily Mail:
https://www.dailymail.co.uk/news/article-14055047/US-map-fastest-growing-states-census-population.html
Ana Bozovic, of Miami Analytics, who studied the data, said it showed a migration flow to Florida and other ’21st Century epicenters across America’ that will continue for decades.
‘Entrepreneurship and creation flow towards the path of least resistance,’ Bozovic said.
‘I do not see a reversal: there will be no mass reverse migration back to high-tax states.’
Download my full Q3 2024 Miami Real Estate Report
I had a busy week. An outline of updates is here.
1) I spoke at the Miami Global Real Estate Congress
My topic was #LongMiami.
2) I spoke at the Real Deal Forum in Miami
I interviewed Juan Arias, the Director of Market Analytics at CoStar.
Footage from both events will be posted soon.
3) I contributed to articles in the South Florida Business Journal and The Daily Mail.
4) I did another fantastic podcast with my friend David Siddons.
Teaser: Watch the full video, I do not think that Ken Griffin is stupid 😉
Miami Global Real Estate Congress
The Real Estate Congress was attended by delegates from 17 countries. The #LongMiami story was a resounding hit. And we were joined by Miami Mayor Francis Suarez, who communicated beautifully the upside and quality of life that we enjoy here.
I have a clip you can watch on my instagram, click on the thumbnail below:
The Real Deal South Florida Forum
I interviewed Juan Arias, the Director of Market Analytics at CoStar. Clips will be posted soon.
The Daily Mail
I contributed to an excellent article on the topic of intra-state migration. The data from the table I published in late October was used, as well as some additional insights.
The Daily Mail made the map below using my insights along with census data.
“Ana Bozovic, of Miami Analytics, who studied the data, said it showed a migration flow to Florida and other ’21st Century epicenters across America’ that will continue for decades.”
“Entrepreneurship and creation flow towards the path of least resistance,” Bozovic said.
“I do not see a reversal: there will be no mass reverse migration back to high-tax states.”
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