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Old 12-26-2014, 10:46 AM
 
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Quote:
Originally Posted by Mutiny77 View Post
It's simple supply/demand at work. More populated areas are more desirable and thus they are more expensive. The COL is slowly creeping up in the more desirable parts of the South, although the cities that aren't geographically constrained can keep sprawling outward and keep housing costs down, although there are trade-offs in other areas.
^This, especially given the factor of public transportation, which was mentioned in the article. It isn't a coincidence that vehicle/personal property taxes are more common in the South, given that it is highly likely to generally be more and/or uniformly more car dependant.

This also didn't get into the aspect of HOA's which privately provides some services to select housing developments and are more common in the South.
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Old 12-26-2014, 12:40 PM
 
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Quote:
Originally Posted by ckhthankgod View Post
^This, especially given the factor of public transportation, which was mentioned in the article. It isn't a coincidence that vehicle/personal property taxes are more common in the South, given that it is highly likely to generally be more and/or uniformly more car dependant.

This also didn't get into the aspect of HOA's which privately provides some services to select housing developments and are more common in the South.
Right. Lower taxes are obviously part of the appeal of the South, but there are other costs to consider as well. I think this is why, at least here in the Atlanta area, attitudes are beginning to slowly shift when it comes to issues like transit. Northern Fulton County, an affluent area which is politically red (more fiscally conservative than anything), is ready to have MARTA rail extended up that way.

It's also important to remember that many of the more desirable parts of the South already have higher costs of living than a lot of places in the Northeast and Midwest.
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Old 12-26-2014, 01:15 PM
 
Location: Jacksonville, FL
11,145 posts, read 14,119,247 times
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Pretty soon, the South will become so expensive that people will not want to move there anymore.
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Old 12-26-2014, 01:24 PM
 
Location: Atlanta
5,287 posts, read 3,506,771 times
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Quote:
Originally Posted by nep321 View Post
Pretty soon, the South will become so expensive that people will not want to move there anymore.
Don't hold your breath. People with money have been moving here for years, and continue to do so.
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Old 12-26-2014, 02:46 PM
 
515 posts, read 484,635 times
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Quote:
Originally Posted by JerseyGirl415 View Post

You can achieve the American dream anywhere if you try, know what you're doing, and have a little help and support along the way.
It's a lot harder to achieve the "american dream" in a place like New York than various places in most of the southeast. Yes, it's possible anywhere, just more difficult to achieve in some areas of the county.
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Old 12-26-2014, 03:48 PM
Status: "Nobody's right if everybody's wrong" (set 24 days ago)
 
Location: New Albany, Indiana (Greater Louisville)
9,829 posts, read 21,138,014 times
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The new economic reality is not great for Gen Y. Most of us, even with college degrees, make as much or even less than our parents did decades ago, but most things cost more due to inflation. If you're making $13 an hour would you rather be in NYC and have 3 roommates or a mid sized metro in the South or Midwest and be able to buy a 3 br house?

The rural South is still bad off and those areas get almost no in migration. The areas attracting non Southerners are the metro areas. The affluent parts of most metros in the South have a quality of life (income, schools, health care) that is typical of the North.
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Old 12-26-2014, 04:51 PM
 
279 posts, read 364,428 times
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Quote:
Originally Posted by JerseyGirl415 View Post
You can achieve the American dream anywhere if you try, know what you're doing, and have a little help and support along the way.

As someone who grew up in a low-cost southern state and now lives in New Jersey, I can tell you that this is simply not true. There are things I like about New Jersey, but the high taxes and high COL are not one of them. The people who choose to leave NJ and places like it in favor of lower-cost states are not crazy, delusional, lazy, or stupid (most of them, at least).

Do you make more doing the same job in New Jersey as you would in, say Atlanta or Charlotte? Sure, but the increase of COL will not be proportional to the increase in your salary. In other words, your cost of living might double, but your salary likely won't (again, speaking from personal experience here). I plan on staying in the Northeast (if not New Jersey) for the foreseeable future. But I haven't ruled out a move back down south at some point, and I certainly don't fault anyone else for making such a move.

Even if your statement were true, why would I live someplace where I had to clear a bar 10 feet high in order to achieve the American dream, when I could live someplace else where I only need to jump 5 feet in order to clear the bar? You understand what I mean?
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Old 12-26-2014, 05:15 PM
 
9,701 posts, read 7,248,572 times
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Quote:
Originally Posted by censusdata View Post
TIf you're making $13 an hour would you rather be in NYC and have 3 roommates or a mid sized metro in the South or Midwest and be able to buy a 3 br house?
Definitely the former. Far more economic mobility in NYC than in a mid sized metro in the South or Midwest. I get my quality of life from my location, not from the size of my bathroom or whatever. That stuff isn't important to me.

But I think I'm in the minority. Most people probably just want cheap, big housing.
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Old 12-26-2014, 05:19 PM
 
9,701 posts, read 7,248,572 times
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Quote:
Originally Posted by White Wine View Post
The people who choose to leave NJ and places like it in favor of lower-cost states are not crazy, delusional, lazy, or stupid (most of them, at least).
Statistically, there is much greater economic mobility in NJ than in the Sunbelt. You cannot argue with actual Census data cited in that NY Times.

I am also always befuddled why people think that places with cheaper housing are a "better deal". I never get that. A "good deal" on housing is one with a good rate of return, as it's an investment. The best rates of return for housing are in California, NYC, Boston, and DC, basically the areas everyone is complaining is a "bad deal".

Do you want a 401k with a 10% annual rate of return or a 401k with a 6% annual rate of return? Does it really matter if the buy-in costs are somewhat higher for the 10% rate of return? Most would probably say no, as long as they're making more money in the end.

But you personally may prefer the Sunbelt, and that's fine. In general, it isn't the smart choice from a financial standpoint, though.
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Old 12-26-2014, 05:22 PM
 
29,905 posts, read 27,355,630 times
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Quote:
Originally Posted by White Wine View Post
As someone who grew up in a low-cost southern state and now lives in New Jersey, I can tell you that this is simply not true. There are things I like about New Jersey, but the high taxes and high COL are not one of them. The people who choose to leave NJ and places like it in favor of lower-cost states are not crazy, delusional, lazy, or stupid (most of them, at least).

Do you make more doing the same job in New Jersey as you would in, say Atlanta or Charlotte? Sure, but the increase of COL will not be proportional to the increase in your salary. In other words, your cost of living might double, but your salary likely won't (again, speaking from personal experience here). I plan on staying in the Northeast (if not New Jersey) for the foreseeable future. But I haven't ruled out a move back down south at some point, and I certainly don't fault anyone else for making such a move.

Even if your statement were true, why would I live someplace where I had to clear a bar 10 feet high in order to achieve the American dream, when I could live someplace else where I only need to jump 5 feet in order to clear the bar? You understand what I mean?
Everywhere in NJ isn't expensive, such as south Jersey.
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