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close video Miamis red-hot real estate market is an anomaly: Marc Roberts

Miami World Center and E11EVEN co-founder Marc Roberts joined Mornings with Maria to discuss Floridas fast growing real estate market.

The nationwide exodus from Democratic-run states has set Florida's real estate market "on fire," and, according to District 11 pioneer Marc Roberts, it's showing no signs of stopping.

RED-HOT MIAMI HOUSING MARKET EXPECTED TO DEFY 2023 COST CORRECTION AS BLUE STATE EXODUS CONTINUES

"The amazing part about Miami is there is no slowdown. As a matter of fact, it's progressing. The values are going up. Businesses are moving there. We're basically in the second inning of a nine inning game. There's a mass exit of businesses, people coming for jobs, people moving there. It's an exodus that nobody's ever seen before," the E11EVEN co-founder said during an appearance on "Mornings with Maria." Image 1 of 3

MIAMI, FLORIDA – SEPTEMBER 29: According to an analysis from Realtor.com, rents nationwide are rising, with the median rent for all sizes of rentals was $1,607 as of August, an increase of 11.5% from a year ago. | Getty Images

In 2022, Florida saw the biggest rush of new residents migrating from predominantly blue states with steep taxes, with about 319,000 Americans making the move there, according to data from the National Association of Realtors. That amounts to a population increase of nearly 2% – well above the 0.4% national growth rate recorded in the U.S. between July 2021 and July 2022.

Roberts continued, arguing that the historic exodus is largely due to widespread "word of mouth" praise for the Sunshine State.

“Miami is the anomaly of what’s going on in this country,” – Miami World Center and E11EVEN co-founder Marc Roberts

"The exodus is the word of mouth. What's going on in Miami right now, anyone who comes to Miami and lives in Miami for a period of time is just telling all their friends how great it is, what an amazing place to live and what amazing experiences they have with their families, and what a great quality of life it is to live in Miami," he said Thursday.

"The best publicity for anything is word of mouth. So, all you hear about Miami is because of everybody talking how what an amazing experience [it is.]" close video South Florida is the hottest real estate market today: Matija Pecoti?

Professional tennis player and Wexford Real Estate Investors director Matija Pecoti? joined Mornings with Maria to talk tennis and investing.

The nationwide crime wave has prompted some blue-state residents to seek safer cities, and, according to Roberts, the "best thing" about Miami is how safe it is.

"The best thing about Miami is how safe Miami is. You know, the Police Chief Manuel Morales, is doing an incredible job. The mayor is, of course, amazing; he's just such a great proponent of everything going on. Our commission is second to none. It's like a perfect storm. Everything about Miami is just hitting on all cylinders," he told host Maria Bartiromo.

BLUE STATE TAX EXODUS TO FLORIDA CHURNING THE 'PERFECT STORM'

The E11EVEN co-founder addressed another point of concern regarding commercial real estate, deeming Miami as a real estate "anomaly" in comparison to the rest of the United States.

"Well, it's funny. There's been about three or four speculative office buildings built, and they're all filling up. They're building office buildings right now just on spec, triple-A office space, and a lot more office is coming because the other ones are filling up so quickly. So, Miami is the anomaly of what's going on in this country," Roberts argued. close video Commercial real estate pain is here: Patrick Carroll

Carroll Organization founder and CEO Patrick Carroll reacts to investor Charlie Munger warning the commercial real estate market could be the next big problem for the banks on ‘The Claman Countdown.’

The Miami pioneer concluded by issuing a bold prediction on the city's red-hot District 11, which has seen an extraordinary boom in recent years.

"The area is on fire, and it's going to become the epicenter of Miami, which means it's the epicenter for Florida, which makes it the epicenter of, basically, the world," Roberts forecasted. 

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FOX Business' Kristen Altus contributed to this report.

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Politics

Starmer refuses to rule out manifesto-breaking tax rises in budget

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Starmer refuses to rule out manifesto-breaking tax rises in budget

The prime minister has refused to rule out manifesto-breaking tax hikes in next week’s budget while speaking to Sky News political editor Beth Rigby.

Sir Keir Starmer was interviewed by Rigby while the pair were in South Africa for a meeting of the G20 group of nations.

Despite the government last year indicating it was not going to raise more taxes, it appears that Wednesday’s fiscal event will involve substantial increases in levies.

The 2024 Labour manifesto said: “We will ensure taxes on working people are kept as low as possible.

“Labour will not increase taxes on working people, which is why we will not increase national insurance, the basic, higher, or additional rates of income tax, or VAT.”

At the start of their interview, the prime minister was asked by Rigby if it was important for politicians to “stick to their word”.

Sir Keir said: “Yes, it is important that politicians stick to their word.

More on Budget 2025

“They have to make decisions against a political backdrop. And, we’ve also got big decisions to make in the budget that’s coming in just a few days time.”

This caveat matches the expectations that a range of taxes are going to be increased so the government can keep its spending pledges and increase its fiscal headroom amid worsening economic headwinds.

There was chaos last week after the increase in income tax that many had expected to be on the way was revealed to no longer be on the cards.

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Why has chancellor U-turned on income tax rises?

Asked specifically on the manifesto commitment on tax, Sir Keir told Rigby that decisions will be made “against a very difficult backdrop”.

In total, the prime minister refused 12 times to rule out tax rises.

He added it was “important to take the right decisions for our country”.

Rigby pointed out in the lead-up to the 2024 Budget, the prime minister was more unequivocal, saying income tax, national insurance and VAT would not all go up.

The prime minister declined to make the same promise, saying the decisions on tax will be announced on Wednesday.

Read more:
Did Reeves pull of something extraordinary?
Government borrowing higher than expected
Will energy bills be made cheaper?

However, Sir Keir said the budget will be guided by “principles”, including “fairness”.

The prime minister said the three areas he is “bearing down on” are the NHS, cutting national debt and dealing with the cost of living crisis.

One tax rise that has not been ruled out is what is known as a “stealth tax rise” of freezing income tax thresholds.

Rigby highlighted that in last year’s budget, Rachel Reeves said freezing thresholds will “hurt working people” – and asked the prime minister if he agreed.

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Sir Keir said: “We are going to set out our decisions.

“We will have absolutely in mind that the cost of living is the number one issue for people across the country.”

Pushed again, if working people will have their taxes increased, the prime minister instead mentioned he has people who are “struggling with the cost of living” in mind when making decisions.

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UK

BBC board member resigns – and criticises ‘governance issues’ at top of corporation

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BBC board member resigns - and criticises 'governance issues' at top of corporation

A BBC board member has resigned after criticising “governance issues” at the top of the corporation.

Shumeet Banerji confirmed the news in a letter on Friday, according to BBC News.

It comes after the corporation’s director-general Tim Davie and chief executive of BBC News Deborah Turness resigned earlier this month after a row over the editing of a Panorama documentary on Donald Trump.

This breaking news story is being updated and more details will be published shortly.

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You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow us on WhatsApp and subscribe to our YouTube channel to keep up with the latest news.

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Politics

Ex-Coinbase lawyer announces run for New York Attorney General, citing crypto policy

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Ex-Coinbase lawyer announces run for New York Attorney General, citing crypto policy

Khurram Dara, a former policy lawyer at cryptocurrency exchange Coinbase, officially launched his campaign for New York State Attorney General.

In a Friday notice, Dara cited his “regulatory and policy experience, particularly in the crypto and fintech space” among his reasons to try to unseat Attorney General Letitia James in 2026.

The former Coinbase lawyer had been hinting since August at potential plans to run for office, claiming that James had engaged in “lawfare” against the crypto industry in New York.

Law, Politics, New York, Elections
Source: Khurram Dara

Until July, Dara was the regulatory and policy principal at Bain Capital Crypto, the digital asset arm of the investment company. According to his LinkedIn profile, he worked as Coinbase’s policy counsel from June 2022 to January 2023 and was previously employed at the crypto companies Fluidity and Airswap.

James, who took office in 2019, has faced criticism from many in the crypto industry for filing lawsuits against companies on behalf of affected New Yorkers, including Genesis, KuCoin and NovaTech. Whoever assumes the role of New York’s attorney general would have significant discretion over whether to file charges against crypto companies.

Related: New York AG urges Congress to bolster protections in crypto bills

Dara, who said he plans to run as a Republican, also echoed Mayor-elect Zohran Mamdani’s recent winning campaign, citing New Yorkers’ concerns about the cost of living and affordability. Cointelegraph reached out to Dara for comment, but had not received a response at the time of publication.

The lawyer who represented XRP holders is also running for office again

As the deadline approached for candidates for various offices to announce their runs, former Massachusetts senatorial candidate John Deaton said he would try to unseat a Democrat again. 

Deaton ran against Senator Elizabeth Warren in 2024, losing by about 700,000 votes. On Nov. 10, however, he announced he would run as a Republican again, attempting to unseat Senator Ed Markey in 2026.