Holly Meyer Lucas was recently featured in Insider Business a few times this week as she discussed her insights about the mass migration to and from Florida along with other states, the current state of home affordability in Florida, and how our infrastructure is at risk.
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According to Realtor.com, searches for properties within Florida are down, while searches from Florida for properties in North Carolina, Tennessee, Georgia, South Carolina, and Alabama are up.
Compass real-estate agent Holly Meyer Lucas, who's based in South Florida, said she has seen dozens of middle-class, native Floridians sell their homes to newcomers and move out-of-state since 2018, when tax reforms drove many high earners to the no-income-tax state. Now, they can't afford to get back in.
"What's happening is if they want to come back to our area, their $800 a month mortgage is not an option anymore," she said. "They have to pay nearly $4,000 a month to rent the same type of home."
Driven by affordability, people are relocating where they can afford.
"They're going to where things are cheap, and they don't have to wait on a daycare list," Meyer Lucas said. "You can say all day long that they're moving because of the southern lifestyle. It's not that, it's the cost of living."
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