Barbara Corcoran Warns Against Buying Real Estate In This US State

Real estate mogul Barbara Corcoran, one the most well known judges, or Sharks, on the "Shark Tank" television series, has put her stamp on some of the most profitable "Shark Tank" products of all time. Since real estate is how Corcoran made her wealth, it makes sense to at least consider her advice on anything related to buying property. This can be especially true when you consider just how much there is to know regarding how the 2025 housing market will be different than 2024. One significant market change in particular centers on how shifting regional housing markets can and will ultimately affect what is considered the best new place to buy a home.

This is why it is particularly impactful that, in 2023 on the "Elvis Duran Show," Corcoran predicted that one particularly popular state, Florida, might no longer be the best place to buy a home. This predication could have especially significant consequences for Gen Xers as they approach their retirement years, since many Gen Xers have primarily known Florida as a retirement haven. However it's not just retirees that could be effected by Corcoran's advice. In 2022, 176,000 Gen Zers moved to Florida looking for a more affordable lifestyle, with Millennials not far behind. Could it be time to reconsider a move to the Sunshine state?

During Corcoran's 2023 interview, she was quick to advise that people should look into real estate in the South. However, she was adamant in her advice that would-be buyers stay away from more popular places, especially, all of Florida. Corcoran explained that would-be buyers without children should seek out areas with poor school districts to ensure that property values are low, which largely excludes Florida. There may be something to that when you consider just how far $250,000 in retirement savings would last in Florida – the answer is not as long as you might think.

According to a 2024 study conducted by Smart Asset, Gen Zers earning $200,000 or more per year are flocking to Florida, making it the second most sought after locale for high net worth Gen Zers — New York took first place. This places them alongside wealthy Millennials and Gen Xers who have also made Florida their preferred home state. With 1,868 Gen Z households earning over $200,000 per year moving in, it stands to reason this is having an impact on the housing market and overall affordability. On Florida, Corcoran said, "There's always a cheap house to buy, always. But not Florida, forget about Florida." 

While Florida might be out, that doesn't mean consumers should avoid buying altogether. During the same 2023 interview, Corcoran was adamant that "the sooner you get in the market, the sooner you can trade up" and that it's always a good time to buy a home. For the value shopper, she advises a little reverse psychology. As opposed to seeking out the best house you can find — buying the worst house in the best neighborhood could be the better strategy.

So while other states in the South are still in play, it's important pay attention to research like this new study revealing where the housing market might boom in 2025. For instance, consider one Southern state that's become more popular than Florida in the last few years. Texas has increasingly been attracting Gen Zers thanks to more affordable costs of living and remote work options which attracted a whopping 360,000 Gen Zers to Texas in 2022 alone. Another draw has been the accumulation of tech headquartered companies like Tesla and Apple — with the latter investing in a campus in Austin. Plus, not only does Texas boast one of the best places to retire but it is also one of several states where you pay no income tax – making it financially appealing to multiple generations.