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As Labor Day ushers in another push for workers to return to the office, brokers say New Yorkers who decamped to Florida during the pandemic are reversing course.
But back-to-work mandates aren’t the sole catalyst. Some just want out of the Sunshine State.
“Florida was not exactly what we thought it was going to be,” one couple told Rex Gonsalves, an agent at Brown Harris Stevens helping a number of clients condo hunt in New York.
Economists theorize that a slowdown in South Florida’s annual rent growth — a nationwide leader over the past two years — is the result of that out-migration.
Not surprising at all but I doubt you realize just how much growth FL experienced over the past 2 years.
I have a number of contacts via work in the Tampa area. The growth was insane. House prices literally doubled or more in some areas in the span of 2-3 years. That type of parabolic growth isn't sustainable.
Out of every 1,000 households that move, it's only logical that a certain percentage won't like it and move back.
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Last edited by Airborneguy; 09-05-2022 at 06:15 PM..
Reason: Edited quote
Funny I see this today. My friend in Tampa called me yesterday to ask if I knew of a particular bike shop on Staten Island. It’s been there since I was a kid so of course I did. His new neighbor is the long-time owner who just sold it and fled to Florida. He’s good friends with another of our mutual friends. Small world.
Let's get real. This is still happening way more in the other direction.
No doubt about that at all
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