Tech billionaire Peter Thiel: Florida is the next California; see why

ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.

Florida has become known as a cheaper alternative to pricey California, but a Silicon Valley billionaire warns that may not last.

Peter Thiel -- co-founder of PayPal and active venture capitalist -- recently told the audience of a conference that the Sunshine State’s jacked-up real estate costs mean Florida is on a similar trajectory as the Golden State, SFGate reported.

“If we’re going to have a high-growth alternative, the test is, do the real estate prices come down?... I worry that’s evidence you’re becoming like California,” Thiel reportedly said.

Click here to read the full story on the Orlando Business Journal’s website.

VIDEO: Cocoa organizations working together to bring affordable housing to the area Cocoa organizations working together to bring affordable housing to the area

©2022 Cox Media Group