Sunday, January 19, 2014

Will retirees be Florida's economic saviors?

With all the focus on creating new jobs, the recovering housing market and the intense foreign capital investment in the real estate market, we seem to have forgotten about one of the most traditional sources of revenue to the economy in Florida: retirees. While this article focuses more on Southwest Florida, it is an issue that is statewide. While this is a generalization, people from the Midwest tend to migrate to Southwest and Northern Florida while people from the West and Northeast tend to flock to South Florida. I have often thought that if you have 2 homes, one if Florida and one somewhere else, eventually you will be making Florida your permanent home. This is due to a few reasons. First and foremost, until recently you couldn’t even sell your Florida home if you wanted. Second is that as people age they get less tolerant of the cold, making the hot summers bearable. Finally, cost of living is lower in Florida than in many places. It seems like many older people are getting to this point these days and Florida will benefit. In the past there were complaints and jokes about how many old people there were here, but you really don’t hear them much since the recession.







Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434

Phone: 561-756-1665

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