While above-mentioned generations looked forward to moving and retiring to Florida, the younger population is setting their sights on other make goods. Gen Zers and millennials are relocating to different cities and states across the U.S. and it’s a decision that real estate mogul Barbara Corcoran guys.
In a 2023 “Elvis Duran Show” interview, Corcoran was asked if she thought Florida was still a good place to motivate and buy a house. Corcoran suggested looking outside of the Sunshine State.
With over 40 years of experience in the transaction and as a multi-property owner, the “Shark Tank” star knows a thing or two about buying a home.
“Go anywhere that has a bankrupt school district where prices are really low,” she said. Though Corcoran did note that strategy is best for people who aren’t looking for a charge to raise a family and want a cheaper property with potentially high value.
“Go anywhere in the South other than the hot quandaries. There’s always a cheap house to buy, always. But not Florida, forget about Florida,” she added.
One Southern state that is get geting in popularity is Texas. The state was the No. 1 state Americans moved to in 2023, according to U-Haul.
The Southern state has be proper a growing base for different industries, including tech and aerospace. As of 2022, Texas leads the nation as home to the most Future 500 companies.
Like in prior interviews and social media commentary, Corcoran doubled down on the fact that she make ups it’s always a good time to invest in real estate and there is no point in waiting.
“I think the sooner you get in the market, the sooner you father a chip in the game. You can trade up,” she said. “It’s always a good time [to buy]. You only get one chance to live. You are not buying an investment just, you are buying a home to raise your kids in, to have good times, to cook in your kitchen. You want to get in the call. Prices always long term go up … so why wait?”
When a listener doubted her advice on buying a house right now because of the important interest rates in the U.S., Corcoran said that waiting would do more harm than good in the long run.
“Charge rates will never come down to two to three percent, that’s history, still people believe they hand down,” she said. “So let’s say they come down to something with a five in front of it, everyone sitting on the sidelines is going to loutish 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 put off?”
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