Ryan Serhant says the American city is not dying. Wealth is spreading, and buyers are following it into places that once sat outside the luxury conversation.
In an interview with Fox Business published this week, the real estate CEO said high-net-worth clients continue to buy in Florida, California, and New York, but are also seeking secondary homes in unexpected markets. He pointed to Huntsville, Ala.; Central Ohio; and Charlotte as the localities he expects to see among the top net migration winners over the next few years.
'What you actually see is wealth multiplying to the benefit of both the individuals and the real estate assets,' Serhant said.
He said those markets are getting attention from investors because they are hot spots for data centers that drive wealth and jobs. He added that Ohio is drawing attention in part because of affordability, saying homes there run about 30% cheaper than those on the coasts.
Serhant also said wealthy buyers are not merely moving from one place to another. Instead, he said, they are diversifying their real estate portfolios and buying multiple homes across the country.
That trend is not limited to the ultrawealthy. The report says affordability is pulling a broader wave of buyers toward the same kinds of markets, with homebuyers increasingly prioritizing lower housing costs and steady employment.
Ohio has emerged as a quiet winner in that shift. A StorageCafe analysis cited in the report says Gen Z and millennials accounted for nearly 30% of all interstate movers. Danielle Andrews, a realtor with Realty One Group Next Generation, said many buyers are trying to build wealth earlier 'without drowning in overhead.'
The report also points to more job opportunities in Ohio. Intel is building two chip factories outside Columbis in a project it raised to $28 billion, described as the largest private investment in Ohio history. Amazon Web Services also plans to invest more than $23 billion in the state through 2030.
Serhant said even New York is not immune when costs rise too far. He estimated the city lost about 12,000 residents last year, which he called 'definitely a warning sign.' He also cited a four-bedroom apartment near his SoHo office that recently rented for $75,000 a month, calling New York 'too expensive.'
The larger lesson is plain: capital looks for lower friction, better affordability, and returns that are not choked off by high overhead. When free enterprise has room to move, wealth does not vanish; it reallocates.
That is why the market keeps rewarding places that offer cheaper housing, real jobs, and room for investment. The coastal strongholds remain powerful, but the growth story is widening. For taxpayers, workers, and buyers alike, the states that welcome capital rather than pricing it out may end up collecting the gains.
