You're watching...
Value Advisory chief research analyst Howard Rosencrans explains why it's more affordable to live in Florida.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
-- And it has beautiful weather low corporate taxes no state income tax and a very low cost of living so it's a no brainer.
The hedge fund executives are well where Cheryl Casone as -- -- now.
-- -- A good morning day in and yes from the -- to -- sunshine state many financial firms over the last three years -- particular have been leaving New York coming down to sunny Florida.
The set up -- because of that tax structure that you were just talking about our resident credits that I advisory.
-- on that you'll know very well we have we talk blood in New York but you also -- done here how I feel I have -- -- -- -- place that you are my folks who -- hearing.
In god -- lobby got as the only Howard you know one of the things that -- you did a few years ago if you actually -- several years for a brokerage firm.
Here in this area as you were your training advising.
Research analyst but it was in Florida and is about -- property while.
Every time I was the director of research at -- -- -- -- and was significantly seriously contemplating moving down and I recognize wow.
Cost of living here is a fraction of what it is in the -- and basically I'm getting paid the same amount of money.
You know gonna show our viewers this because cost -- image that that is crucial that is something that you told me in the past.
Is what many financial executives are moving to Florida from New York the cost -- -- if -- Miami 52%.
Lower.
But in New York City and that -- -- living as a big factor in whether or not firms come down here correct.
Frankly I would be shocked if it's only 52% I mean look look at what's transpired we -- you have real estate that's.
Thirteen 114115100.
Dollars.
Vs 34500.
Dollars here.
And that's just magnified look at what private schools courts look at what restaurants -- caught but -- need to just your average daily life how you spend it going to be where you go.
Everything -- he is staggeringly.
Can you imagine commercial real -- -- have the numbers here in New York it's 59 dollars 43 cents per square -- for commercial roles in New York.
It's 27.
Dollars.
And four cents per square -- for commercial analysts say I was here in Miami the residential side which has a fivefold -- differential so whatever you're seeing on commercial it's even further it's even more compound that over there he also said he made the point that it's -- recruit talent to come down here because of that cost of living and the fact that we've got technology where it is today.
Makes it easier to -- to consider coming back to Florida.
Absolutely I mean you can go back and watch.
Easy enough -- The technology takes you back and forth but also look at the -- you have to come down -- somebody can go work for what will be even.
-- -- Merrill Lynch great ignored all none of those firms are business Citi yeah.
Even if you have quote security what you thought you had in the ninety's and a great opportunity -- with a firm make 34500000.
Dollars and millions of you still can't afford it down there you can make a lot last year you have -- Laura -- this well maybe even the rain.
All of that aren't all right yeah.
But you're gonna grab that aren't the talent pool is gonna increasingly come right here -- -- -- -- advisory thank you for coming god knows all rainy today we appreciate it but it really doesn't anyone here.
That's the funny part is that you'll you'll be setting out he'll be a little rainy.
It stops and few seconds with a lot like the -- don't wanna let you all know the coming up in the noon eastern time of markets our.
In the noon eastern time hour of markets now a -- proxy is noble financial president CEO he has actually been up in New York recruiting.
Investors to come down.
The Florida and he's actually been very successful he's going to be talking with me at 12:20 eastern time day and I come back to you thank you -- -- -- -- you get to go to the Miami boat show.
And look at some seven figure yachts.
