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Articles by Gary Itskovich
Bank Activity Fuels South Florida’s Economic Growth
After two years of economic uncertainty, record-setting inflation, increased regulatory scrutiny, and more, banks are finally experiencing some relief. In an article published by The Daily Business Review, Nelson Mullins attorneys Gary Itskovich and Rusty Melges discuss the state of the banking industry and its expected growth in 2024, specifically in South Florida.
Bank Activity Fuels South Florida’s Economic Growth
Decades-high inflation, economic uncertainty, increased funding costs, compressing margins, heightened regulatory scrutiny, bank failures and a general decline in bank stock valuations have taken their toll as 2022 and 2023 were turbulent years for banks. Since March 2022, the federal funds rate has increased by 525 basis points—the sharpest increase in more than 40 years.
South Florida’s Renaissance Drives Region’s Strong Economy
Since the tsunami of interest from individuals and businesses came crashing upon the shores of South Florida in the early months of the COVID-19 pandemic, the flood of intrigue and investment into the region has shown no sign of subsiding. Despite pervasive fears of contraction in urban areas across the country, South Florida’s intensifying relevance—both nationally and globally—offers a reliable basis for optimism in the region’s real estate market and overall economy.
Multifamily Housing Booms in South Florida Due to a 'Great Migration'
No longer is Florida exclusively a paradise for retirees occupying their days with golf, playing bridge and catching the early-bird dinner special. In recent years, Florida—specifically South Florida—has experienced one of the largest migration booms in U.S. history. And according to some reports, it’s expected that the population of South Florida will continue to grow by roughly 18,000 people a year for each of the next five years.
Multifamily Housing Booms in South Florida Due to a 'Great Migration'
Insights Multifamily Housing Booms in South Florida Due to a 'Great Migration' Daily Business Review In an article published by the Daily Business Review on May 26, 2023, Boca Raton real estate partners Gary Itskovich and Donny Schreiber discussed the “great migration” to South Florida after the COVID-19 pandemic due to the state’s no-state income tax policy, laissez-faire business policy, and the countless beaches available to the public.
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