South Florida stands out as the capital of America, and steals more than $ 9 billion in income from New York

South Florida flourished as the new capital of America.

Some area The main developers and city leaders offer the argument that this trend is 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 complete roads, but (the matter) certainly took a completely different turn,” said the founder of Integra Investments and houses in South Florida, Nelson Stable.

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“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. “

Peres and Nelson were not surprised by a recent report issued by the New York Citizen Budget Committee, which was found New York City witnessed an external flow Among tens of thousands of high-density population from 2017 to 2022, who got nearly $ 14 billion of income with them to Florida-with more than $ 9.2 billion dollars go to Palm Beach, Brazard and Miami Dead provinces.

“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 at least a natural decision to have a presence here in some respects,” Stabile noted that the reports numbers are “impressive” supported by Companies like CitadelStarwood Capital, Apple, Kaseya and Related Ross creates the presence of “Class-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 South Florida real estate A scene in 1979 and sold more than $ 50 billion in real estate with a relevant group, and Stabile- which was called the homeland for 32 years and represents the local NAHB chapter-focusing on public welfare as the basic logical basis for moving in 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.”

One of the main things we focus on as a company is to provide more workforce housing Holding affordable housing for the working class“The middle class, because what we do not want to happen in the city is that we only become a city for the wealthy,” Perez said.

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 states at the local level need to accelerate the process in a way, way and fashion, so that there is a very clear way for the developer to be able to build … It (now) has passed two tours of the modifications, and it improves and better every time in a manufactured way.”

“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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