Rent is about to explode (Florida residents flocking to New York in droves)

#finance
#financement
New York's housing market is booming in 2025, as reverse migration is now causing a mass influx of people into the state. Many of these people are coming from states like Florida and California, who now view New York as a "climate safe haven".

Home values in New York continue to rise due to a significant shortage of inventory on the market. In metros like Albany, NY, the number of homes for sale is down 50% from peak.

There is also a big inventory shortage in Westchester, Long Island, Rochester, and Syracuse - as record-low homes for sale is resulting in continued bidding wars across the market.