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Apply the same stringent criteria to Florida and you'd have a sand bar.
He’s basically saying that because folks like to park their assets in Florida for tax reasons, it’s the best thing the South has known. And because Buckhead is the only enclave in Georgia (his words, not mine) and we don’t sell $55 million mansions to those said high net worth individuals so that they can benefit from those tax incentives, we are second rate at best.
Rhetorical question. Now does this prove what he’s saying is true, or does this dispel the notion that South Florida is best?
He is defeating his own argument here. Folks in Georgia live here all year, pay taxes and sell $25 million mansions. Folks pick South Florida for the benefits (he is admitting this). I get that even inspite of this, locals benefit from it and that’s true. And again, it’s true that South Florida has more appeal (or rather, it has a broader international appeal and here lies the problem). But let’s not act like Florida is the draw of all draws with no competition. Atlanta does, has and always will give Miami a run for its money and in many ways, Atlanta is a much better metropolitan area.
Buckhead, Mountain Brook, Belle Meade, Sea Island, South Walton, Savannah, Destin, Tallahassee, and Charleston are all places I’d pick over anywhere in South Florida. I honestly wouldn’t want to live in Orlando or Tampa, either. I guess I’m not supposed to say stuff like that though. To enjoy the authentic South is as wrong as sin.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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Possibly—though Miami has overall better weather and an ocean/beach at its doorstep—not 4 hours away—that many pay a premium for....now, if COL is an issue and one cannot afford to live near the water in Miami (ocean or bay), then without question one could have a better QOL in Atlanta provided there are no barriers (lack of educational degrees, etc) that prevents one from finding a job that supports their lifestyle in either city.
Atlanta is a city where one can grow up and find a job/career (more plentiful, especially corporate presence) that allows them to enjoy the area more comfortably whereas that has become more difficult for native Miamians, many of whom have gotten priced out of the most desirable areas as transplants, such as myself and from abroad, have decided to relocate here for the climate, city with its cultural and entertainment offerings, and ocean and brought their wealth earned elsewhere with them and jacked up housing costs. If affordability is not an issue, both are good cities though Miami/Miami Beach has the added natural advantage of being a Bayfront/ocean front city which the market has determined deserves a premium.
Quote:
Originally Posted by isawooty
Atlanta does, has and always will give Miami a run for its money and in many ways, Atlanta is a much better:
Last edited by elchevere; 01-17-2019 at 10:51 AM..
Mind I’m not saying these people don’t exist... but Georgia does not attract outside HNW individuals to be residents without other compelling reasons such as work, family or history.
Neither does Texas and it has no SALT issues ... lots of states don’t.
They may well be very attractive places to live in themselves but very few states attract those type of immigrants.
For every one of these people you find in Georgia you will probably find 5 in Texas 100 in Washington or Wyoming,300 in Nevada but 1000 in Florida.
Until recently California and Montana and Arizona also were big in this space but SALT will essentially kill that stone dead.
Georgia is a lovely state .. but it doesn’t attract that type of immigrant.
This is getting ridiculous. HNWIs usually own several homes in several places but can only be official residents of one state.
Mountain Brook is a nice town, but it is considerably less wealthy than many other wealthy towns in the South. For instance:
Median Family Income:
Belle Meade: $220K
Mountain Brook: $130K
My vote would be for Fisher Island, FL, but it is so exclusive that most of us “regular” people will never even get to see it.
We have vacationed in Kiawah, and I absolutely love it, but wouldn’t consider it super exclusive.
Could that be that Mountain Brook residents are not about income( $130k), but assets ( old money?) ?
They don’t pay income tax as much, just capital gains? which is lower?
Could that be that Mountain Brook residents are not about income( $130k), but assets ( old money?) ?
They don’t pay income tax as much, just capital gains? which is lower?
Belle Meade is old money as well. Mountain Brook reminds me of an Appalachian influenced Brentwood.
Belle Meade is old money as well. Mountain Brook reminds me of an Appalachian influenced Brentwood.
That's got to be the most uninformed thing I've read today.
Last edited by MinivanDriver; 04-16-2019 at 05:10 PM..
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