Have COVID Relocations to Area Peaked? (Miami, Mayo: home, restaurants, moving)

[elchevere]

There was much fanfare about all the people from the Northeast (and even Californians) relocating to SoFla as a result of COVID (and/or more than usual) but Bloomberg and others have reported some of these moves might be temporary as many—not all—are looking to return to NY and elsewhere now that mass vaccinations are underway and there is some light at the end of the tunnel.

https://www.google.com/amp/s/www.blo...yeing-a-return

Ditto with businesses. Sure, some hedge funds have relocated here and there was talk of Miami becoming the next tech mecca based on Mayor Suarez’s tweet campaign and some VC funding from SoftBank, Founders Fund and Thoma Bravo, but the truth is so far only smaller companies have relocated here unlike Austin and Dallas which has actually attracted Corporate HQ relocations—not just 10 or 20 employees from a firm or a division (outside of Blackstone and 200 jobs it is moving here being an exception).

So my question is, has Miami and SoFla reached its COVID relocation / remote work peak bump?

[Marc Middleton]

Originally Posted by elchevere

So my question is, has Miami and SoFla reached its COVID relocation / remote work peak bump?

If I had a crystal ball, I would say not yet. I feel that companies will continue to embrace work from home (Ford just announced a hybrid plan for many employees) so that will have some additional folks relocating to sunny Miami.

I definitely think the 'rush' is over and people will return to NY/CHI/NJ when Summer comes and they miss all the culture/arts/weather of the NE/Midwest come Summer.

[elchevere]

I see a return to more normal migration patterns here, minus the bump we got over the past several months. I believe the vast majority of non-retiree/remote work people from elsewhere who thought about moving here have done so by now.

Would be great if more businesses relocate here, even if only “scraps” (if not corporate HQ moves). I’m also excited about more top NYC area restaurants opening outposts here—I believe that will continue.

[allenk893]

Whenever I hear members of the NY press gloating about returnees and NYC "roaring back to life", I just think it's the epitome of delusional. It's too early to say if the covid-momentum to FL has stopped. The exodus hasn't and out-of-state companies are still watching and weighing their options and others remain in the process of relocating.

[elchevere]

At the same time the FL (and some National) press hyped and made it sound like a lot more people from NY and Wall Street relocated here than actually did.

More NY’ers moved to other Northeast cities (and elsewhere) than to SoFla/Miami:

https://www.google.com/amp/s/www.new...575161%3famp=1

https://www.google.com/amp/s/www.mul...ers-moving-to/

Originally Posted by allenk893

Whenever I hear members of the NY press gloating about returnees and NYC "roaring back to life", I just think it's the epitome of delusional. It's too early to say if the covid-momentum to FL has stopped. The exodus hasn't and out-of-state companies are still watching and weighing their options and others remain in the process of relocating.