South Florida emerges as America’s capital for capital, steals over $9B in income from NY

South Florida flourished as the new capital of America.

Some of the major developers and city leaders in the region offer this trend permanent and practical, as New York City lost billions of dollars in the region.

“We, as a company, are a family, we want to be known not only to build beautiful buildings and the formation of heroes, but really created neighborhoods and create neighborhoods that can provide housing for everyone,” said John Paul Perez, CEO of the relevant group of Fox News Digital. “We want Miami to be a world -class city, but we do not want Miami to be a world -class city for the wealthy only.”

“In many roads around the world, there is already recognition of the South Florida market as full words, however [it] Certainly, the founder of Integra Investments and home builders in the President of South Florida, Nelson Stable, Nelson Stable, said Nelson Steel, president of South Florida.

Goodbye, New York, Hello Miami: Why does millionaires flow to South Florida?

“I think we have benefited a lot from the state’s position and its approach to being a little more up, and a little more open than other markets,” said Stabile, and this type of pushing us to recover faster, which made us pass today. “

Perez and Nelson were not surprised by a recent report issued by the New York Citizen Budget Committee, which found that New York City witnessed an external flow from tens of thousands of high population from 2017 to 2022, who got nearly $ 14 billion in income.

“People realize that they like to live here. It is a pro -business environment and low taxes, and they can transport their companies here and do not feel that they are missing,” Perez said. “Miami has become like this New York in the south, where we have financing, we have a technique, we have hospitality generosity, and we have large cruise industries. So we have become a more diverse economy over the past five years.”

The CEO continued, “It has made the change for the largest, in the city, a more diverse and thoughtful city.” “We feel strongly that this will continue because I think it has been discovered now. And when things are discovered, they only continue to expand them and do better.”

“I feel that it is a natural decision to have at least the presence here in some respects, and Stabile indicated that the” impressive “reports numbers are supported by companies such as Citadel, Starwood Capital, Apple, Kaseya and Related Ross that creates the existence of” degree-A “.

“When you see a major investment player, he makes a decision to transfer all his employees and establish their home base here in Miami, in southern Florida … it is exciting,” said Stimula. “The company comes, then as soon as it is here, its investments in the region continue in other projects to grow significantly.”

The report of the Citizen Budget Committee included the supreme reasons that those who leave New York City were driven by: a pandemic, immigration policy, concerns of the ability to bear costs, and the quality of issues in life and job opportunities.

Perez, whose father exploded to the real estate scene in South Florida in 1979, sold more than $ 50 billion in real estate with the relevant group, and Stabile-which described the area as a 32-year home and represents the local NAHB separation-focus on public well-being as the primary handkerchief of the south.

However, there is some concern that the increasing demand steadily and a decrease in supply can come out of the most important markets, such as New York City for decades.

Why did this resort area in Florida become more popular for home buyers?

“Six years ago, if you had to have a conversation about rental prices, the entire market was somewhere between $ 45, $ 50, and perhaps $ 60 a foot. Today, in the same initial markets, Coral Gabs is hovering to about $ 100 for the foot.

“The only way to balance this scale is to provide more products on the market,” Stabile expanded. “Our market was not ready and produced enough new families through new construction projects to be able to ensure that rents will keep at the same levels. So, there is inevitably, there is more competition for the existing stock, then prices can be raised, and this is a source of concern.”

Peres said: “With these high -minded now, and comparing the housing price here in South Florida from where it comes from it, I think we are still less expensive,” Peres said. “I think what you will see over time is that there should not be a discount for South Florida compared to New York and Los Angeles, London, because we are now a major city.”

Peres said: “One of the main things we focus on as a company is to provide more workforce housing and housing at reasonable prices for the truly working class, the middle class, because what we do not want to happen in the city is to become a city for the wealthy only.”

In fact, developers and city planners actively work to destroy the red tape and accelerate residential and commercial construction projects to meet the permanent demand for immigration.

Stabile said: “If you bring more density in vertical developments about the public transport contract, if you will, then you increase the possibility of the residents of those areas to use the infrastructure available for public transport instead of more and more crowded roads.”

“New York will never be in New York. Miami will always be its own version of Wall Street from the south.”

John Paul Perez

There is also a direct local law in Florida, which was designed to enhance affluent housing by providing tax and regulatory incentives, land use and financing incentives.

“It took a long period of time from the moment the property or investor owner will get property when they can start effectively in construction,” said Stabile. “The judicial authorities at the local level need to accelerate the process in this way and fashion, so that there is a very clear way for the developer to be able to build … it is 1747654196 Two tours have gone through the modifications, improve and better each time in a way that is resolved. “

“The largest red tape for us, and any developer here, to be able to meet the offer is to obtain approval and the permit,” Perez agreed. “It is something we see with local officials, head of the building department and city directors … It may take projects from the time when you buy a plot of land until you get a permit, you can be two and a half years, three years.”

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Stabile concluded that “we are very bullies”, and we strongly believe in the fact that Florida will remain very good to take advantage of all this migration. I think it is from our end, what we can do is, especially to be local and understand … Pain points from growth and capabilities … continue to work with our government agencies to make sure that we provide them … This will need harmony. “

“New York will never be in New York. Miami will always be its own copy of Wall Street from the south,” Perez said. “They want to get off and see what is going on. They all realize the change that occurred here and how important the city of South Florida.”

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