Gen Z is Leaving While Older Generations Moving to Florida?
It’s really no mystery why people are moving to Florida, especially the Baby Boomers and retirees. Take it from one of The Golden Group partners (a Canadian who lived in the Northern hemisphere for 40+ years of his life) the #1 reason we hear people say they’re moving here is because of the weather. Quite simply, people are just done with the snow!
"I personally don’t miss the days when it was a job to get to my job—digging my car out of the driveway after a night of snow and a backfilled snow plowed driveway."
"I personally don’t miss the days when it was a job to get to my job—digging my car out of the driveway after a night of snow and a backfilled snow plowed driveway. And don’t get me started on the ice rain snow days! These days are particularly hazardous for elderly people. My aunt shattered her forearm one year after taking a flip on her ice-covered driveway." It’s no wonder why our older generation want to move to Florida.
The second reason the older generations are moving to Florida is to escape other high-tax states. Florida has no state taxes. It’s simple mathematics. Your money goes a lot further here. It’s just that simple.
However, Gen Z (18-24) doesn’t seem to care about the warm weather and lower taxes. They are moving to bigger cities like New York City, Los Angeles, Chicago, Houston, and Philadelphia, and are exiting Florida. I t appears that Florida's demographic composition, with a significant proportion of elderly individuals, may not align with their preferences. Nevertheless, we hold the belief that when the present generation reaches their later stages of life, they will likely return to Florida!