We're #1! (At least when it comes to the states that people are moving out of!)
=> United Van Lines' Annual National Movers Study
I'll go not too far out on a limb that's not too far off the ground and predict something that should be obvious: The trend will accelerate now.
I'll go not too far out on another limb: the ratio of taxes paid to benefits received is not the same for those who are entering and for those who are leaving.
My daughter lives and works in Pennsylvania. One of her co-workers lives at the Jersey shore. Most of New Jersey is within commuting distance of Pennsylvania.
And then there is (relatively) tax-free Florida.
If there is any consolation, New Jersey will probably be up to it's eyeballs in FBI, DHS and ICE for years.
(If he walks, or if he lands in the hoosegow -- either way Menendez is only a start.)
People move out of NJ once they cannot afford it.
I visited NJ last weekend. Several people in their 40s and 50s told me that they would be leaving when they retire because they cannot afford to live there as retirees. They were all democrats. One was honest enough to explain the connection between politics and work in NJ - if you are not in “the party” you are not going to go very far. Seemed like a political mafia. None made the connection that their problems, their high auto insurance, high tax burden is because of the way they vote.
The down side is that they are able to move out with their democrat “values” to help ruin other places (see northern VA, also Florida, Austin, Sante Fe) rather than spend their retirement years paying for all of the programs/handouts for which they voted. My hope is that the laws of economics will finally catch up, but unfortunately the people who should be accountable and suffer the consequences won’t be the ones who built the house of cards on sand.
I lived in PA when I was young, my twenties (1970s), and spent time in NJ. At that time the economic forces were good in both states...as time went on, I found moving out was better for me. Being from South, it was natural I would end up coming home to NC, after a couple of other places.
Taxes were high decades ago in the North compared to the South, so only the financially independent could afford them. It took time for the South to reach same economic opportunities as North, however, the taxes have risen over time. The places many left in North to come to here... are now suffering higher costs, and so are we from them trying to make our area... just like where they came from. That boggles my mind!
I recently owned 2 homes, one here in NC and one in Florida. Thankfully, I sold the one in FL before the last Hurricane, 2017. Last year I only lost a mailbox in Hurricane Mathew. My point is that FL homes were cheaper, however risks are greater for destruction of homes, mold, and for me the heat is a bit much! Winter ok, but Summer, UGH!
Now International Guides are pushing Islands and overseas retirement as much cheaper than USA, even the South. There is always a trade off, with finances and risks. I like it here in mountains, so one adjusts the budget.
Crime and weather should be as important as taxes and extra money, because if you hate where you live, or fear for your life....saving money doesn’t make for a good trade off!
God will keep you where he sends you, however... if he doesn’t send you....well, it’s uncomfortable being there!