Jack Moran, President & CEO
It appears that the pandemic has accelerated the out-migration of people AND capital from the densely populated Northeast region of the U.S. to the lower cost, lower density markets in the Southeast, especially Florida.
In a recent GlobeStreet.com article, “William Spransy, CFO of North Carolina-based Eller Capital stated, “There has been a massive amount of interest in the Sunbelt,” he says. “It’s been a general trend for a while. I feel like it has picked up considerably, and I think that’s going to continue for the foreseeable future from an investment perspective because of the structural demand and the growth prospects here.”
The Sunbelt is a large region, and some areas, particularly the coastal markets in the State of Florida, are already on the road to recovery from the effects of the COVID pandemic.