"We're seeing actual population shifts," William Spransy, CFO of North Carolina-based Eller Capital, tells GlobeSt.com. "I believe demand is still extremely strong in the Carolinas as the pandemic has only accelerated the trend of migration out of the more densely populated areas to lower cost and lower density regions of the Southeast."
As people move, Spransy thinks capital flows will follow. But that isn't the only reason he's optimistic about investment in the Sunbelt.
"The [the COVID migration] is obviously accelerating capital flows," Spransy says. "In New York City, there are a number of regulatory issues and lower growth prospects."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
