New York, Fernando, 2019 discussed on Best of Liquid Lunch with John Tabacco

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Products. That's 1 808 161482. About how life I think the money Monday just about to close out. Our one will hand it off the back Smith at the top of the hour, But joining me now live here on a money Monday is Mr Andrew. He is the CEO and broker of Army Realty. In a strong island. Mark. What's up, Andrew? Hey, Fernando, how to be here. Thank you. I appreciate it. So Andrew, let's let's let's get right to it seems like this market right now is just booming. If you want to be leaving New York, the city Even Long Island two and moving maybe a little bit more west into New Jersey Even as far south as Florida. How do you see the housing market right now? Well, everything you just described is very accurate and it's pretty. It's pretty interesting to watch because everyone always seems to think New Yorkers go straight to Florida. But it's just just not the case. I was actually building some houses in North Bergen, New Jersey, and we build 11. Beautiful ground up that we put on market for 8 50. We sold it at 9 50 All cash was 100 grand over asking with no contingencies. Nothing just took it. And those people relocating from New York and there the house we flip, there's all Rina people relocating for New York, so they're spreading out everywhere it. It's interesting, though, Andrew because, you know right now in this market, we know that because obviously what Kobe did to New York and New Jersey collectively, um people have been just mass migration was reported last week on Forbes that apparently Florida's going to become like the sixth girl because it seems like You know, hundreds of one. Hundreds of thousands of New Yorkers have just relocated to Florida. And not to No one's surprise. New Jersey was second on the list. I believe with over 90,000 people leaving New Jersey again. It's not just covid because these reports from until April 2021 so obviously it's pre pandemic. It's obvious it's New York, New Jersey, Just way too expensive to live in property taxes tackle role. I think that's what movie And the people to move not just Florida. Maybe a little more. South Delaware, The Carolinas, Georgia. I completely agree with you, You know, Actually, we have some properties that I listed in Bayside, Queens and the property taxes for those people, Uh, in 2000 and 17 was somewhere in the ballpark of $8000 per year. From New York City that was average at the time. But then by the time we listed it was in 2019, their taxes went up to 13,000. They went up almost four over $4000. In a two year period, and it just shows you they just keep raising the cost of living here, Raising the cost of living. Everything is going up in New York. The price of food price of gas prices everything. So I think people are getting pretty fed up with the fact that they don't have to pay an arm and a leg just to live. I mean, if you think about property tax, probably taxes, a fixed expense. That's not going anywhere and it keeps climbing year after the year, So I think this is a great example for calls for some administrative changes. If they want to plan to keep people Well, listen, I think what what you just said is code for we need more fiscal responsibility. Food tolls, gas Everything just just become more expensive and states down south are becoming more attractive. Andrew Let me ask you this because during this pandemic, I think we saw a lot of people having to reassess their careers. And at least here in New Jersey, New Jersey I know I mean, I don't have enough fingers and toes on me to count the amount of people that I know. They said. You know what? I'm just have a big career change..

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