Financial Giants Relocate to Southern Hubs, Sparking a Major Asset Shift
Wall Street is packing its bags and heading south, relocating from the bustling streets of New York City to the more relaxed and cost-effective Sun Belt region, which spans across the Southeast and Southwest United States. According to Bloomberg, this migration involves nearly $1 trillion in assets under management.
This trend isn't entirely new. Even before the pandemic, Wall Street executives had started shifting thousands of jobs out of New York to reduce operational costs.
Today, around 158 financial institutions managing $993 billion in assets have set up and expanded their operations in states like Florida, North Carolina, Tennessee, and Texas. These states offer lower costs and attractive business climates, making them ideal for financial firms looking to optimize their expenses and operations. Bloomberg's analysis of 17,000 corporate filings reveals the significant scale and impact of this shift. Read the full article here: https://www.forbes.com/sites/jackkelly/2023/08/23/wall-street-is-going-south-and-taking-1-trillion-in-assets-with-it/
Why Investors Should Look to Orlando’s Booming Rental Market
As financial firms move southward, cities like Orlando are poised to benefit significantly. Orlando's real estate market has seen impressive growth in recent years and continues to attract both businesses and residents. This shift presents a golden opportunity for investors to capitalize on the city's thriving rental market.
Everest Place is one of the largest projects in the region, it offers unique branded real estate assets like Nickelodeon Hotels & Resorts Orlando condos and Mysk Residences. These high-profile properties are set to meet the rising demand for quality housing, making them a smart investment choice. With Orlando's ongoing growth and the influx of new businesses and professionals, investing in rental properties now promises robust returns. Everest Place, with its distinctive offerings, stands out as a prime opportunity in this dynamic market.
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