A new edition of our Newsletter is out. In this sending we explore the beautiful Metropica, a planned community in the city of Sunrise. There is also news from the housing market in general. The virus may in fact have helped the housing market. “Americans value the home more than ever and are willing to prioritize housing even as they cut back on other expenses. Additionally, the Fed is using low interest rates to stimulate the economy, which is giving buyers more purchasing power and boosting home sales” said Daryl Fairweather, Chief Economist ad Redfin.
Furthermore, New Yorkers are moving to Florida in unprecedented numbers. Bloomberg reported earlier last week that Covid-19 has boosted the number of rich New Yorkers moving to Florida. The pandemic has created a few more reasons to make what has always been a winter retreat for New York’s upper class into a more permanent home. Florida’s favorable tax laws have long been a draw for high-net-worth individuals, a desire for more living space and disruption in work and school have increased the number of homebuyers willing to make the move to the Sunshine State. At the $1 Million price tag and above, sales have more than doubled in July for all three South Florida Counties of Miami-Dade, Browad and West Palm Beach.