RETIREES COME BACK TO FLORIDA IN FORCE

RETIREES COME BACK TO FLORIDA IN FORCE

It is always easy to wrapped up with the tourism numbers in Florida, which are always impressive and now are at record levels. But an often overlooked but no less important group is also growing again: retirees who move to Florida. Aside from our favorable climate, our tax advantages give Florida a clear edge over other possible retiree havens such as Arizona, Texas and the Carolinas. Specifically, low property taxes, the fact that there is no state tax and a low cost of living. The recovery of the stock and housing markets have fueled the increase in retirees moving to Florida, mostly from colder weather states in the Northeast and Midwest. However the new arrivals are being cautious and trying to avoid areas that had seen massive price drops and swings in the recession. I never have heard of this but these are called "hockey stick markets" where prices fell and rose dramatically. One thing that I find interesting is that retirees do want housing that will be easy to deal with, such as apartments. That type of product is now being built as quickly as possible in the areas where it can be supported. But it is mainly rental product and the retirees prefer to buy. There is no problem with apartment shortage at this point and that would be a great issue to be faced with. But as long at the prices, weather and taxes stay relatively the same in the Northeast and Midwest, Florida can be assured of a never ending stream of retirees coming South looking for warmer and cheaper nests. And they plant the seeds for the next generations of Floridians by having all of their families come here and visit them. In doing they so fall in love with the area and eventually move here which is exactly what happened to me! As always thanks for reading and have a great day.