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☆ Wall Street and money moved into South Florida, driving up prices. Now some residents want to move out.
▼ + stars: | 2023-10-22 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +10 min

They're looking to nearby smaller cities in South Carolina, North Carolina, Georgia, and Tennessee. They're picking places like Knoxville, Tennessee; Greenville, South Carolina; Huntsville, Alabama; and Asheville, North Carolina; which she collectively refers to as "the Villes." AdvertisementAdvertisementWhy CEOs moved their lives — and their businesses — to FloridaWall Street moved to South Florida in droves in 2020 and 2021. Billionaire hedge-fund CEOs — like Citadel's Ken Griffin — paid record-shattering amounts for South Florida homes , added offices, and moved their businesses there entirely from New York, Chicago, and Silicon Valley. They bought a 2,400-square-foot, four-bedroom home on an acre of land for the same price in Greenville, South Carolina.

Persons: —, There's, Nicole Panesso, Holly Meyer Lucas, Meyer Lucas, Ken Griffin —, Brian Guzman, Guzman, Jonathan Miller, Ken Griffin, PATRICK T, FALLON, It's, Larry Ellison, Miller, Michael Bordenaro, Greg May, Marcia Straub, Keller Williams, Jill Cody, she's, Ryan Wilson, Jami, Alexander Spatari, Jami Wilson Organizations: Service, Sunshine State, Census Bureau, Orlando, Coral, Fort Myers, Florida Wall, Billionaire, Guzman Advisory Partners, Getty, West Palm Beach, Florida Atlantic University, Silicon, Oracle, South, South Florida metros, Fortune, Miami, Homes, Army Locations: Florida, Greenville, Knoxville, South Florida, Chattanooga , Tennessee, South Carolina, North Carolina , Georgia, Tennessee, Knoxville , Tennessee, Greenville , South Carolina, Huntsville , Alabama, Asheville , North Carolina, Realtor.com, Asheville, Miami, Gulf Coast, New York, Chicago, Silicon, West Palm, Fort Lauderdale, Palm Beach, Texas, North Carolina, Greensboro, Fort

☆ How Florida became America's 2nd-most-valuable housing market
▼ + stars: | 2023-10-01 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Florida beat out New York to become the country's second-most-valuable housing market, Zillow said. Of the top six markets that gained the most value since the onset of COVID-19, four are in Florida. The market boom is driven by an influx in new residents putting more demand on the housing stock. Florida welcomed 655,000 new residents since the start of the pandemic, according to Census estimates reported by Insider in March. Stefanie Mortenson traded her life in Virginia for a $159,000 tiny home near Tampa, Florida.

Persons: Zillow, —, Stefanie Mortensen, Stefanie Mortenson, Noelle Lane, Nicole Panesso, There's, David Triana Organizations: Florida, Service, Sunshine, Bloomberg, Florida Atlantic University, Florida International University, Tampa, North, Coral, Lakeland, Cape Coral, Joint Center for Housing Studies, Harvard University Locations: New York, Florida, California, Tampa, Miami, Jacksonville, Orlando, Virginia, Tampa , Florida, North Port, Palm, Gulf Coast, Naples, Cape, Georgia, Tennessee, Nicole Panesso South Florida, Fort Lauderdale, Chattanooga , Tennessee, Clermont , Florida

☆ Moving to Florida could save you on taxes — but cost more overall
▼ + stars: | 2023-01-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Many Americans have seen the lack of a state income tax as a way to get ahead financially. Many have also been drawn there because it's one of nine states with no state income tax, which could potentially save them thousands of dollars per year. Despite the lack of an income tax, Florida has higher sales and property taxes than some of its peers, and due to Florida law, newcomers are seeing higher property tax increases than longstanding residents. Before moving to the Sunshine State, it's worth considering how Florida's cost of living compares to where you live now, and to your potential employment opportunities. Indeed, the lack of an income tax is a major financial perk for Floridians.

☆ Millions of people are still moving to Florida. They might regret it.
▼ + stars: | 2022-12-29 | by ( Jacob Zinkula | Jordan Pandy | ) www.businessinsider.com time to read: +4 min

The state's population has been steadily increasing for decades. But some that have moved to Florida will come to regret the decision — and may ultimately move out. A nearly 14,000-member Facebook group for people moving out of Florida has cited severe weather, low wages, crowded beaches, changing politics, and steep housing prices as reasons people left. Nicole Panesso lived in Florida her whole life until moving to Tennessee earlier this year, she previously told Insider, citing low wages and high expenses as reasons why. For Greg May, Florida's high temperatures were the main reason he left for North Carolina, he previously told Insider.

☆ Americans are still moving to Florida. They might regret it.
▼ + stars: | 2022-12-29 | by ( Jacob Zinkula | Jordan Pandy | ) www.businessinsider.com time to read: +4 min

☆ Why I left Florida: 7 people share why they're leaving the Sunshine State and warnings for people considering moving
▼ + stars: | 2022-07-23 | by ( Jordan Pandy | Kelsey Neubauer | ) www.businessinsider.com time to read: +1 min

'I'm 31 and spent my whole life in South Florida, but I wanted to be somewhere I could actually afford to settle down and buy a home soon. So I moved to Chattanooga, Tennessee.' Nicole Panesso, 31, who moved to Tennessee from Florida. The pandemic drew an influx of out-of-state movers and drove up housing costs in South Florida. Panesso, who was already renting a studio for $1,200 a month in Fort Lauderdale, knew she was ready to move on.

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