While previous generations eagerly anticipated moving and retiring to Florida, the more youthful population is setting their sights on other locations. Gen Zers and millennials are moving to various cities and states throughout the U.S. and it’s a choice that property magnate Barbara Corcoran supports.
In a 2023 “Elvis Duran Show” interview, Corcoran was asked if she believed Florida was still a great location to move and purchase a home. Corcoran recommended looking beyond the Sunshine State.
With over 40 years of experience in business and as a multi-property owner, the “Shark Tank” star understands a thing or 2 about purchasing a home.
“Go anywhere that has a poor school district where prices are really low,” she stated. Though Corcoran did note that method is best for individuals who aren’t searching for a location to raise a household and desire a less expensive residential or commercial property with possibly high worth.
“Go anywhere in the South other than the hot spots. There’s always a cheap house to buy, always. But not Florida, forget about Florida,” she included.
One Southern state that is growing in appeal isTexas The state was theNo 1 state Americans relocated to in 2023, according to U-Haul
The Southern state has actually ended up being a growing base for various markets, consisting of tech and aerospace. As of 2022, Texas leads the country as home to the most Fortune 500 business.
Like in previous interviews and social networks commentary, Corcoran doubled down on the reality that she believes it’s constantly a great time to purchase property and there is no point in waiting.
“I think the sooner you get in the market, the sooner you have a chip in the game. You can trade up,” she stated. “It’s constantly a great time[to buy] You just get one opportunity to live. You are not purchasing a financial investment just, you are purchasing a home to raise your kids in, to have great times, to prepare in your kitchen area. You wish to get in the marketplace. Prices constantly long term increase … so why wait?”
When a listener questioned her recommendations on purchasing a home today since of the high rates of interest in the U.S., Corcoran stated that waiting would do more damage than great in the long run.
“Interest rates will never come down to two to three percent, that’s history, still people believe they will,” she stated. “So let’s say they come down to something with a five in front of it, everyone sitting on the sidelines is going to rush the market, bid the pricing up, there’s not enough inventory to go around … everyone is going to pay more to the tune of 10, 15 maybe 20 percent. So why wait?”
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