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$14.995 million offering in Miami Beach. Photo: The Jills Zeder Group

New Yorkers are flooding sellers in places like Miami and Palm Beach "with offers, and the supply of available properties is plunging," Bloomberg reports.

What's happening: Florida’s tax laws have long been a draw for rich individuals, but the pandemic has increased the state's allure.

  • "What was the three-to-five year plan is now the three-to-five month plan,” Simon Isaacs, a Palm Beach luxury broker told Bloomberg. "If everything shuts down again, do you want to be stuck in an apartment in New York, or do you want to be stuck in a home in Florida?"

Go deeper

Hurricane Sally makes landfall in Alabama with "life-threatening storm surge"

A driver navigates along a flooded road as the outer bands of Hurricane Sally come ashore in Bayou La Batre, Alabama, on Tuesday. Photo: Joe Raedle/Getty Images

Hurricane Sally made landfall near Gulf Shores, Alabama, as a Category 2 storm on Wednesday morning, packing maximum sustained winds were 105 mph.

What's happening: "Historic and catastrophic flooding is unfolding along and just inland of the coast, from Tallahassee, Florida, to Mobile Bay, Alabama," the National Hurricane Center said, as the storm's eyewall was moving across the coast.

Justice Department drops insider trading inquiry against Sen. Richard Burr

Sen. Richard Burr (R-N.C.) walking through the Senate Subway in the U.S. Capitol in December 2020. Photo: Stefani Reynolds/Getty Images

The Department of Justice told Sen. Richard Burr (R-N.C.) on Tuesday that it will not move forward with insider trading charges against him.

Why it matters: The decision, first reported by the New York Times, effectively ends the DOJ's investigation into the senator's stock sell-off that occurred after multiple lawmakers were briefed about the coronavirus' potential economic toll. Burr subsequently stepped down as chair of the Senate Intelligence Committee.

Netflix tops 200 million global subscribers

Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth-quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.