Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
More wealth is moving into Florida, by far, followed by Texas per the IRS. NY and CA were the biggest losers.
Tech jobs might not be coming over en masse but people—and their established money and wealth—sure are. If the purpose of the 2017 SALT limits was to create wealth relocation, looks like it is working with a bit of success.
(For those without a WSJ subscription, see following):
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
7,410 posts, read 6,553,115 times
Reputation: 6685
Quote:
Originally Posted by 1200RT
Its almost as if ... people with means are tired of the BS and are pulling the rid cord.
You'll never convince the CA apologists of that, though.
I think this 2020 data also represents some/early remote worker migration--I suspect the wealth migration numbers will increase even further once the 2021 data becomes available and comprehends even more WFH who relocated in even greater numbers once they were in a position to do so.
Thanks for sharing, it’s great to see the Sunshine State taking in more wealth!
These results are more or less expected and a continuation of the trend. One surprise for me though was that Virginia actually lost wealth. It had been a beneficiary of domestic migration, but perhaps the tides have turned for it?
Other than Colorado, all are purple or red states. And all, save Colorado, are decidedly cheaper than the northeast or west coast.
Florida, Texas, and Arizona have all seen dramatic increases in cost of living (housing), from property taxes and other inflationary pressures worse than many states, however.
FLORIDA and TEXAS don't have a state income tax not too surprising.
NV or TN either.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
And all, save Colorado, are decidedly cheaper than the northeast or west coast.
