With the nation and world in an economic downturn it’s nice to see Miami poised to rebound in a big way. So what is the Miami advantage you ask? Is there an advantage in today’s crazy market? There are trends that can’t be overlooked in relocation strategies. These facts are what they are and must be consumed as information in making a decision on where to relocate to. If we don’t like the factors in a point of view that means we don’t like the point of view and doesn’t discredit the facts. The facts I refer to is the fastest growing state economies in the last thirty years.
The first fact is that the states with Right to Work laws have outpaced income for citizens more than that of Closed Shop states. Relocating to a Right to Work state gives you the advantage because most of the new jobs will begin in these states. Guess what state Miami is located in? Florida is a Right to Work state. Right to work means you are more likely to get work in a struggling economy.
The second fact is that along these same lines that states with no state income tax push you up to another level of opportunity. That’s right, states with no state income tax fair better in tough times. It seems that individuals with the means to begin new businesses prefer to live where there are fewer taxes. Even though some say state income taxes are normally low, if you have the capital to begin or grow a new business even low taxes are high compared to no taxes at that level. Again I would bring to your attention that Florida does not have a state income tax. Yet another advantage for investing in Miami real estate.
Now take the first two factors and add an ideal place to relocate to and then throw in beautiful beaches and blue water along with everything Miami has to offer and that is the Miami Advantage. Investing in Miami real estate in this economy might be your best bet yet.