The net migration patterns show a clear trend among high-earning millennials, with Florida and Texas emerging as the top destinations due to their lack of state income tax.
Despite losing thousands of high earners, New York and California remain major economic hubs, still housing the largest number of young high earners in the country.
Randy Ryerson explains that remote work has allowed more people to move away from their workplaces, leading to a greater exploration of new living areas.
Many former New Yorkers have also relocated due to companies like Blackstone and Goldman Sachs expanding their offices in Miami, further influencing migration trends.
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