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Old 01-12-2017, 09:52 AM
 
335 posts, read 334,357 times
Reputation: 258

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Quote:
Originally Posted by GoCUBS1 View Post
1. The trend is NOT that the "highly educated with great jobs" are all moving away - the complete opposite is happening (see all the linked articles/trend stats on this thread).

2. A $5000 out-of-state moving cost is indicative of a very small move (a single person apartment move with few items?). A single-family house out-of-state move of "the highly educated with great jobs" would probably be at minimum $12,000 - $15,000 or more. I believe $20k is a typical company move/relo package? I've moved away from Chicago 3 times (thank heavens I'm back) and got multiple competitive moving quotes each time - never below $12k.... And I packed my own boxes.

People who are spending $5000 to move out-of-state are not likely the higher income SFH owners moving valuable items.
Wow, you know so much about me just from a post. Actually we are a family with several children and have plenty of things to move. I have received quotes between five and $7000... maybe you just chose the wrong moving company.

Also, you can post all the articles that you want but the truth is The people that I know that are leaving are doing so because they are tired of paying for unnecessary things in Illinois. They are leaving because they are smart and because it is a better financial move.

Millionaires are leaving Chicago, report says - Chicago Tribune

 
Old 01-12-2017, 09:56 AM
 
335 posts, read 334,357 times
Reputation: 258
Quote:
Originally Posted by GoCUBS1 View Post
High income earners do you not care as much about this, because they have tax sheltering built into their portfolios.
Right, but one argument I've heard about relocating to states that have much lower property taxes is that the higher state income tax would offset that. Once the state income tax in IL is raised (which of course it will be because the money has to come from somewhere to pay back the billions in debt) then the monthly savings will be even greater.
 
Old 01-12-2017, 09:59 AM
 
Location: Chicagoland
5,751 posts, read 10,378,188 times
Reputation: 7010
Quote:
Originally Posted by Taco1234 View Post
Wow, you know so much about me just from a post. Actually we are a family with several children and have plenty of things to move. I have received quotes between five and $7000... maybe you just chose the wrong moving company.

Also, you can post all the articles that you want but the truth is The people that I know that are leaving are doing so because they are tired of paying for unnecessary things in Illinois. They are leaving because they are smart and because it is a better financial move.

Millionaires are leaving Chicago, report says - Chicago Tribune
Nope, I got six quotes when I moved a SFH from Chicago 3 years ago. A $5000 move means you are moving from a smaller home/apartment with fewer rooms and fewer moving boxes (this is how move costs are calculated). An average single-family home move from Chicago to another state is 10-15K minimum which is why area companies offer at least that in the relocation packages.
 
Old 01-12-2017, 10:05 AM
 
335 posts, read 334,357 times
Reputation: 258
Quote:
Originally Posted by GoCUBS1 View Post
Nope, I got six quotes when I moved a SFH from Chicago 3 years ago. A $5000 move means you are moving from a smaller home/apartment with fewer rooms and fewer moving boxes (this is how move costs are calculated). An average single-family home move from Chicago to another state is 10-15K minimum which is why area companies offer at least that in the relocation packages.
Sorry to burst your bubble. 3000 sq foot 4 bed house ... don't know what to tell ya! The truth still remains, IL is doomed.
 
Old 01-12-2017, 10:13 AM
 
Location: Chicago
1,769 posts, read 2,104,651 times
Reputation: 661
You guys are all welcome to move out.

As all the softies start moving out (say, all the soft women move out), then eventually, all the women left will be like the below type.

Not that it makes much of a difference, since if you all stayed, you were all segregated anyways. But when all the softies leave, it makes it harder for anyone to do armed robbery, so that's a good thing.
Attached Thumbnails
Illinois......are you staying or leaving?-15873335_1871962859699554_2260377229109639140_n.jpg  
 
Old 01-12-2017, 10:13 AM
 
14,798 posts, read 17,685,669 times
Reputation: 9251
Quote:
Originally Posted by GoCUBS1 View Post
High income earners do you not care as much about this, because they have tax sheltering built into their portfolios.
of course they don't, which is clearly demonstrated in the census statistics that show huge increases in the number of $100K+ households in Chicago.
 
Old 01-12-2017, 10:22 AM
 
Location: Chicagoland
5,751 posts, read 10,378,188 times
Reputation: 7010
Quote:
Originally Posted by Taco1234 View Post
Wow, you know so much about me just from a post. Actually we are a family with several children and have plenty of things to move. I have received quotes between five and $7000... maybe you just chose the wrong moving company.

Also, you can post all the articles that you want but the truth is The people that I know that are leaving are doing so because they are tired of paying for unnecessary things in Illinois. They are leaving because they are smart and because it is a better financial move.

Millionaires are leaving Chicago, report says - Chicago Tribune
Above article addresses an increase of those leaving with $1 million+ in assets (about 3000 people left). $1 million in assets puts them squarely in the middle class (up to $2 million assets) category - probably a lot of retiring seniors who want to live off that nest egg in a warmer climate.
 
Old 01-12-2017, 10:32 AM
 
Location: Chicagoland
5,751 posts, read 10,378,188 times
Reputation: 7010
Quote:
Originally Posted by Taco1234 View Post
Sorry to burst your bubble. 3000 sq foot 4 bed house ... don't know what to tell ya! The truth still remains, IL is doomed.
Unlikely you're moving from city of Chicago or close suburbs then. And I'll stick with this "doomed" state. We're just one of the first to go through it and with the influx of talented people and their investments, and a leadership change, we will come out of it just fine.
 
Old 01-12-2017, 10:34 AM
 
14,798 posts, read 17,685,669 times
Reputation: 9251
Quote:
Originally Posted by GoCUBS1 View Post
Above article addresses an increase of those leaving with $1 million+ in assets (about 3000 people left). $1 million in assets puts them squarely in the middle class (up to $2 million assets) category - probably a lot of retiring seniors who want to live off that nest egg in a warmer climate.
And here is the "study". It's terrible. Not worth the paper it's on. My 7th grader could put something more accurate together.

http://nebula.wsimg.com/6e5712bf40ff...&alloworigin=1
 
Old 01-12-2017, 10:40 AM
 
Location: Chicagoland
5,751 posts, read 10,378,188 times
Reputation: 7010
Quote:
Originally Posted by Taco1234 View Post
Right, but one argument I've heard about relocating to states that have much lower property taxes is that the higher state income tax would offset that. Once the state income tax in IL is raised (which of course it will be because the money has to come from somewhere to pay back the billions in debt) then the monthly savings will be even greater.
Again, many people do not care at all about the income and property tax percentage increases because:

1) They can make a lot more money in Illinois (see previous posts comparing IT salaries).
2) Our COL and real estate is underpriced/affordable compared to other comparable areas.
3) The higher educated who are moving here are particularly adept at taking advantage of tax sheltering.
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