For generations, people have been moving to Florida, the sunshine state.

It's been a magnet for people for decades.

That's our colleague Arion Campo Flores, who lives in Miami.

Obviously, a lot of retirees have, you know, dreamed of having a little, you know, bungalow on the beach and spending their golden years, you know, fishing and hanging out near the water.

It's not just retirees, though.

Florida has drawn people from all walks of life.

And a big reason is that the state has historically been very affordable. It has drawn people in other age groups, people who are

blue-collar workers, who are, you know, nurses, who were teachers, cops and firefighters. You know,

they could find a place to maybe start a new chapter in their

lives and live in a new development.

As a result, Florida's population only seemed to move in one direction, up. But in the past few

years, something has changed. That population growth has slowed dramatically.

And the only people who seem to be moving to Florida these days are rich.

That appeal that it has long had and that accessibility that it has long had for people around the country who are more maybe middle

income or even lower income has really faded.

It seems like that Florida dream is still alive, but only if you have enough money.

Yeah, that's a good way to put it.

I think Florida really illustrates national trends.

It's sort of like you see it in an extreme version here.

You know, greater population of millionaires, greater influx of wealthy people, greater array of services aimed at the rich, and yet a real significant squeeze of working class and middle class households.

Welcome to The Journal, our show about money, business, and power.

I'm Ryan Knitzen. It's Wednesday, May 27th.

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