For years, headlines have warned that the American metropolis is in decline—remote work would empty downtowns, crime would drive families out, and the luxury real estate market would collapse. But Ryan Serhant, CEO of his namesake firm and star of Owning Manhattan, says that narrative is wrong. In fact, he argues the opposite is happening: wealth is multiplying, and it's flowing into both traditional hubs and unexpected new markets.
The Metropolis Isn't Dead—It's Evolving
Speaking to Fox Business in an interview published this week, Serhant pushed back against the idea that American cities are over. "You would think that the American city is over, the metropolis is dead, and people are scattering," he said. "And what you actually see is wealth multiplying to the benefit of both the individuals and the real estate assets."
His view challenges the doom-and-gloom predictions that have dominated real estate discourse since the pandemic. Instead of a mass exodus, Serhant sees a redistribution—one that's creating new opportunities in places many investors once overlooked.
Why High-Net-Worth Buyers Are Looking Beyond the Usual Suspects
Florida, California, and New York remain undeniable hot spots for wealth. But Serhant says his high-net-worth clients aren't abandoning these markets—they're expanding their portfolios. Many are now seeking secondary homes in markets that offer a different blend of affordability, lifestyle, and long-term growth potential.
This isn't just about escaping high taxes or crowded cities. It's about diversification. Wealthy buyers are betting on regions where job growth, infrastructure investment, and quality of life are on the rise. And that's leading them to places like Ohio, Alabama, and the Carolinas.
The New Migration Map: Huntsville, Ohio, and the Carolinas
Serhant specifically pointed to Huntsville, Alabama, as a market to watch. The city has quietly transformed into a tech and aerospace hub, drawing engineers, entrepreneurs, and remote workers. It's the kind of place where a dollar stretches further—and where buyers see room for appreciation.
Ohio and the Carolinas are also emerging as top destinations. These regions offer a mix of affordable housing, growing job markets, and a slower pace of life that appeals to both young families and retirees. For investors, they represent a chance to get in early on the next wave of American wealth creation.
What This Means for Everyday Buyers and Sellers
For ordinary Americans, Serhant's insights carry real weight. If wealth is indeed multiplying and spreading to new markets, local housing demand could rise—pushing prices up in places that were once considered bargain territory. Sellers in these areas may find themselves with more leverage, while buyers could face more competition.
At the same time, the trend suggests that the old rules of real estate—where only coastal cities mattered—are fading. Buyers who can work remotely or invest in secondary homes are reshaping local economies, bringing new money and new expectations.
Serhant's Track Record and Why His Words Carry Weight
Ryan Serhant isn't just a TV personality. He built SERHANT into a major real estate brokerage, known for its tech-forward approach and high-profile luxury listings. His firm has closed billions in sales, and his Owning Manhattan show has made him a household name in real estate circles.
His perspective matters because he operates at the intersection of celebrity and serious deal-making. When he says wealth is multiplying, it's not a guess—it's based on what he's seeing in his own client base.
Confirmed Facts vs. What Remains Unclear
Confirmed: Serhant gave an interview to Fox Business published this week. He said the American city isn't dying and that wealth is multiplying. He identified Huntsville, Ohio, and the Carolinas as markets to watch for net migration.
Unclear: The exact timeline for these migration trends. Whether these markets will sustain their growth if interest rates or economic conditions change. How much of this is driven by remote work versus other factors.
Risks and the Balanced View
Not everyone shares Serhant's optimism. Some economists warn that the migration to secondary markets could be a temporary pandemic-era shift rather than a permanent realignment. Others point out that many of these emerging markets lack the infrastructure—hospitals, schools, transit—to absorb rapid growth.
There's also the risk of overbuilding. If too many buyers rush into the same markets, prices could become inflated, leading to a correction. And for every Huntsville success story, there are smaller towns that saw a brief boom and then a bust.
The Bigger Trend: Wealth Is Decentralizing
Serhant's comments reflect a broader pattern: American wealth is no longer concentrated in a handful of coastal cities. The rise of remote work, the search for affordability, and the growth of tech hubs in the South and Midwest are all contributing to a more distributed map of prosperity.
This doesn't mean New York or San Francisco are fading. But it does mean that the next decade of real estate growth may look very different from the last one.
What Should Buyers and Investors Do Now?
If you're a buyer, consider markets that have strong fundamentals—job growth, good schools, and room for appreciation. Don't chase hype; look for places where people actually want to live and work. If you're a seller in an emerging market, you may have more negotiating power than you think.
For investors, diversification is key. Don't put all your capital into one city or region. And always do local research—what works in Huntsville may not work in Charlotte.
What's Next for the American City?
Serhant's prediction is bold but not reckless. He's not saying the metropolis is dead—he's saying it's changing. The cities that adapt, invest in infrastructure, and attract diverse industries will thrive. Those that don't may struggle.
For now, all eyes are on places like Huntsville, Ohio, and the Carolinas. If Serhant is right, they could become the new heartlands of American wealth.
Our Take
Ryan Serhant's message is a timely reminder that real estate is never static. The pandemic accelerated trends that were already underway—remote work, affordability migration, and the rise of secondary cities. While risks remain, the idea that wealth is multiplying rather than disappearing is a hopeful one. It suggests that the American dream of homeownership isn't dying; it's just moving to new zip codes.
Frequently Asked Questions
What did Ryan Serhant say about the American city?
He said the American city isn't dying. Instead, he believes wealth is multiplying, benefiting both individuals and real estate assets.
Which markets is Ryan Serhant watching for migration?
He identified Huntsville, Alabama, Ohio, and the Carolinas as top destinations for net migration in the coming years.
Are Florida, California, and New York still hot for real estate?
Yes. Serhant says these traditional luxury markets remain hot spots, but buyers are also seeking secondary homes in unexpected markets.
What should buyers do in this shifting market?
Focus on fundamentals like job growth and affordability. Consider emerging markets with long-term potential, but always do local research before investing.
