South Florida cashes in on new wealth as New York City pays the price

South Florida has bloomed as America’s new capital for capital.

Some of the region’s leading developers and city leaders make the argument that the trend is permanent and practical as New York City lost billions of dollars in income to the region.

"We as a company, as a family, want to be known for not only building beautiful buildings and shaping skylines, but really creating neighborhoods and creating neighborhoods that can provide housing for everybody," Related Group CEO Jon Paul Perez told Fox News Digital.