TAX-DRIVEN MIGRATION TO SOUTH FLORIDA WON’T END SOON: PANEL

From The Real Deal – May 23, 2019

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Migration to South Florida from New York and other high-tax states is a long-term trend in its early stages, according to a group of experts.

“To use a tired baseball analogy, everybody asks: What inning are we in? I would say we’re still driving up to the ballpark. This [migration] is just getting started,” said Jonathan Miller, president and CEO of Miller Samuel Inc., who moderated a panel presentation in Boca Raton at the condominium sales gallery of The Residences at Mandarin Oriental on Wednesday.

“We think this is the tip of the iceberg … We have a relocation division in our company, and the phone is ringing off the hook,” said panelist Jay Phillip Parker, CEO of the Florida brokerage of New York-based Douglas Elliman.