Shark Tank star Kevin O’Leary has no problem calling some states winners and others losers. And he says Florida is on a winning streak.

“There’s a reason that everybody moves from Massachusetts to Florida,” he said. “There’s a reason that happens. It’s the competition of states, which is a very healthy dynamic. You’re pro-business, that’s very important.”

A recent transplant from Boston to Miami Beach himself, it’s little surprise he sees Florida as a better place to do business. But he said in some parts of the country, individuals can move their residencies or businesses a few miles and be in a much better tax climate.

O’Leary, an international investor and successful entrepreneur, offered his praise of the Sunshine State during a “fireside chat” with U.S. Sen. Rick Scott, part of the Rescuing the American Dream summit headlined by the Senator in Washington.

Scott said the business environment produced benefits for states beyond the entrepreneurs themselves.

“We get a lot of retirees in Florida,” he said. “They go make their money in some other state, and they come down to Florida and invest all their money afterward. They give it to our charities.”

The event sought to establish how conservatives can best advance President Donald Trump’s agenda over the first 100 days of his presidency. But O’Leary, an outspoken fiscal conservative, made clear he supports policies, not politicians.

Scott, a health care executive before his time in elected office, spoke to O’Leary about a range of topics from cryptocurrency to economic growth. O’Leary endorsed the STABLE Act and GENIUS Act, two pieces of legislation that would establish a consistent regulatory framework around digital currency and ensure their value remains backed by the U.S. dollar.

Scott also asked O’Leary about a Trump proposal to allow wealthy individuals to buy citizenship for $5 million. O’Leary, a native of Canada, said other countries have similar systems already, but the U.S. would need safeguards so criminals and ill-intended people with large sums of money couldn’t skirt any vetting.

But he also said the U.S. should work to allow some foreign nationals who acquire an education in the U.S. to stay here with less hassle. As a Harvard business instructor, he said it frustrated him when strong students are told they will be kicked out of the country.

“I mean, it’s nuts. That’s crazy, you have to admit,” he said to Scott.

“Okay, I agree,” Scott said.

O’Leary said he feels hopeful that the U.S. and Canada can find a mutually beneficial alliance to unify their economies. He said that doesn’t have to include making Canada part of the U.S. But he said a conservative victory in Canada would ease that, and a surge in the Liberal Party polling in recent days could complicate that. The biggest obstacle to a deal, he said, is the animus between Trump and Canadian Prime Minister Justin Trudeau, who leaves office in weeks regardless.

In the end, he said all policies crafted in Congress should keep in mind an outcome very much in keeping with the summit’s name.

“What is America’s No. 1 export? Is it energy? Is it technology? Is it grain?” O’Leary said. “No it’s that.” He pointed at the words “American Dream” on the summit signage.

“There’s a reason everybody kills themselves to get here, or goes over the river or barbed wire or breaks anything legally,” he said. “They want to be part of the American Dream.”

Post Views: 0

Gov. Ron DeSantis wants you to have a fun Spring Break — as long as you don’t actually break anything.

“We want people to have a good time, but we must maintain public order,” DeSantis said as he announced Florida is deploying extra resources across the state to crack down on out-of-control partying.

Twelve local agencies requested extra assistance, so the state will deploy more than 100 Florida State Troopers, DeSantis said at a press conference in Miami Beach in advance of the upcoming busy holiday.

“We owe it to the people that live here. We owe it to people that visit here to make sure that this is orderly and safe for everybody involved,” DeSantis said. “Once again, the state is providing resources that cities throughout our state need to ensure Spring Break does not descend into chaos and mayhem.”

The state has equipment ready on standby, including drones, planes, canine units and BearCat armored vehicles, DeSantis said.

Spring Break is big business for Florida, as visitors from up north travel to beaches and theme parks.

But in 2024, around 140 Florida State Troopers were out at DUI checkpoints, doing curfew and traffic enforcements and street patrol in cities across Florida. In Miami Beach alone, there were about 50 extra officers on hand. By the end of Spring Break, there were 36 felony arrests statewide — 16 of them in Miami Beach, DeSantis said Thursday. Last year, police also arrested 51 on misdemeanors and 11 DUI arrests in Florida.

“That’s a huge deterrent when people are being held accountable,” DeSantis said.

He added there was a decrease in businesses complaining about destruction or guests running out on their bills.

“I think most people you talked to, 2024 was the smoothest and most successful Spring Break we’ve had here in a long time,” he said.

Post Views: 0

When it comes to housing prices, the principle of “what goes up must come down” historically applies.

And to that end, Gov. Ron DeSantis says that a dip in home values can’t be ruled out.

“Maybe there will be a correction in the real estate market. Although I’ll tell you, I think that there was more authentic demand in Florida this time than in 2000 and 2007. There was a lot of speculation then, I’m not saying there’s none now, but … a lot of people have wanted to come here,” DeSantis said, suggesting that the “authentic demand” existed but is now in the past tense.

The idea that a correction is underway tracks with a recent analysis by Realtor.com that suggests a lot of stale listings linger on the market.

Florida’s inventory of homes for sale as of February was at a record high, up 40% year over year and more than 7% over January’s number. The average home price is down more than $100,000 year over year in Bradenton and Sarasota.

Other regions show the same problems. The Elliman Report, which tracks closed home sales monthly, showed Miami-Dade and Broward sales were down more than 45% year over year in January. And the Northeast Florida Association of Realtors (NEFAR) shows a 39% year over year decline in Jacksonville and surrounding counties.

DeSantis made the comments to illustrate his desire to reduce or even eliminate property taxes, which would pass a burden to local governments reliant on millage rates.

He believes market flux is one reason property tax punishes homeowners who may have bought at the top of the market, suggesting that property appraisers won’t take into account a decline in market value.

“Say there is a correction. So you bought it at a rate, they assess it much higher, there’s a correction and they’re going to say, ‘I keep that assessment up there.’ They’re not going to lower the assessment. That’s really, really hard,” DeSantis said Thursday in Miami.

If a crash similar to what longtime Floridians have seen before happens, homeownership rates likely will decline and loan defaults likely will increase, based on historical data.

Regardless of whether a “correction” happens or not, high interest rates clearly have cooled a market that was red hot in the early years of the pandemic, with remote workers, retirees, and others flocking to the “Free State of Florida” to find better values than in other areas and to escape COVID restrictions.

___

Drew Dixon of Florida Politics contributed to this report.

Post Views: 0