Posted on 03/19/2024 9:15:55 AM PDT by ChicagoConservative27
New Yorkers who recently ditched the city for low-tax hot spots in Florida and Texas are finding the savings to be a lot less than they would have if they moved four years ago as the cost to rent or buy a home soars.
Rents and home prices in Miami have surged by around 40% since the pandemic, which sparked the Great Exodus from the Big Apple to the Sunshine State, as well as to Dallas and Austin in the Lone Star State, according to a study by financial information provider SmartAsset.
The result has been that New Yorkers earning $250,000 who moved to Miami last year ended up saving $88,036 — or 28% less compared to people in the same income bracket who moved to South Florida in 2019, the study found.
(Excerpt) Read more at nypost.com ...
About the highest insurance rates in the US are in FL. Bona-fide housing shortage in some areas. It’s getting ugly.
SmartAsset sounds like it’s run by a bunch of far-left SmartAsses. I moved from Arizona to Texas. They show up and start asking me stupid questions that is none of their business, I’ll put a boot in their “smart ass”.
Law of Supply and Demand.
Demand goes up, Prices go up..........
It’s no longer your Grandpa’s Florida. Low cost beach community second homes are a thing of the past.
Texas prices have also skyrocketed, and both places are filling up with Tax Hiking, gun grabbing, Blue State Virus carrying leeches.
Purchase price, home insurance, and crime are all way up.
I was just searching for properties on Zillow and an ad for the "Tahoe Beach Club" popped up. Check out one of the amenities they offer:
I don't ever recall low taxes being offered as such a prominent selling point. The club is in Nevada this is obviously aimed at high-tax states like CA.
I forgot to add “Why would they choose a photo of the lake covered in forest fire smoke?” Maybe Easterners will think that is a beautiful Western sunset, but we in the West know better. That haze is the sign of a big forest fire in the Sierras.
If I owned a property and a NY, Chicago, California transplant wanted my house, the first “yous guys” I hear would add a 25% premium on the price.
Crime has always been higher in Florida than in New York for my entire lifetime (and I have lived in both).
It’s true.
Lots of people moving here to Florida and a whole bunch of them are conservatives. That’s great. Wish we could keep the price of housing low but they bid each other up...
The cost of freedom. Well worth it.
DUH! Paying more for a house has no equivalency to paying taxes. You get zero benefit from taxes whereas home purchases are investments in the least. You simply convert your money into real estate and can always convert it back to cash. Spending more on a house is not a negative because you have a net zero change in wealth at the time of purchase. Money spent in virtually everything else like food, utilties, regualtion, taxes etc are monies (i.e. your life converted into money) is pissed away forever.
Stupid article, written by stupid public school grads for stupid readers to consume. Go ahead and stay in your rat hole of the Northeast.
Only that we aren’t going to be able to vote-with-our-feet our way out of this.
There’s not a truly red state in the nation.
Not one.
Caveat emptor.
One of my internet friends moved to Florida back around the early 1980s. Only they didn’t come from New York. They came from Wisconsin. His father owned a farm, hundreds of acres big. The farm provided them with a nice annual income. My friend recalled how his parents supplied him with all the nice toys he could play with such as motorized mini bikes.
But then his father fell for the “retire to florida” propaganda. He sold the family farm and moved the whole family to a florida mobile home retirement community. He and the family regretted the move almost immediately.
They once owned hundreds of acres of land that provided a big house to live in, food, and a very comfortable income. Now in Florida, They lived on a tiny patch of land that they didn’t even own. They leased the land. They went from a big farmhouse to a tiny single wide (later expanded to a double wide) mobile home. They no longer had a huge income generated by their land, but survived on fathers retirement income. His kids had to get jobs (my friend worked as a cashier in a walmart, among other places) as opposed to working for themselves.
I agree. However, they do need to at least fix the homeowner insurance problem. Mine went up a thousand to 3200 a year. What’s it going to be in five years? 6,000 a year?
I wonder what Nebraska housing is like?
You’re right. It’s nice living in a sane state where your Governor protects YOU not the criminals.
NY is imploding.
There are lots of good reasons to flee!
“We found the most expensive places in Florida so that we can compare them to New York prices in an attempt to stop the outflow”.
The point of the story is "New Yorkers who recently ditched the city for low-tax hot spots in Florida and Texas are finding the savings to be a lot less than they would have if they moved four years ago as the cost to rent or buy a home soars" they waited too long to make the move.
-PJ
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