[JayCT]

Holy cow, well Governor Lamont and the Legislature have come to an agreement on the budget and it includes a whopping $600 million in tax cuts, something that hasn’t been done in more than 25 years. The budget extends the gas tax holiday and includes cutting car tax, eliminating taxes on pensions, and up to $750 child tax credit. Something for just about everyone. Jay

https://ctmirror.org/2022/04/27/ct-b...s-tax-holiday/

[kidyankee764]

Originally Posted by JayCT

Holy cow, well Governor Lamont and the Legislature have come to an agreement on the budget and it includes a whopping $600 million in tax cuts, something that hasn’t been done in more than 25 years. The budget extends the gas tax holiday and includes cutting car tax, eliminating taxes on pensions, and up to $750 child tax credit. Something for just about everyone. Jay

https://ctmirror.org/2022/04/27/ct-b...s-tax-holiday/

It’s almost as if there’s an election coming up!

[BobNJ1960]

There should be a reduction in the state personal income tax tables also, with a sunset date of 3 years. If surpluses exist then, the cuts could be proposed and passed again by the legislature. The state even after these cuts is hoarding huge surpluses which will lead to them overspending again.

[Stepfordct]

What about the big raises for CT state workers?

[JayCT]

Originally Posted by Stepfordct

What about the big raises for CT state workers?

What about them? Of course they are accounted for in the budget. Jay

[Stepfordct]

[quote=JayCT;63344623]What about them? Of course they are accounted for in the budget. Jay[/QUOTE

Yes, just with all the hoopla about pension issues it seems bad timing for such generous raises that many soon to retire will have the benefit of said increase helping increase the pension too.

[SteveM85]

[quote=Stepfordct;63346589]

Originally Posted by JayCT

What about them? Of course they are accounted for in the budget. Jay[/QUOTE

Yes, just with all the hoopla about pension issues it seems bad timing for such generous raises that many soon to retire will have the benefit of said increase helping increase the pension too.

It looks like teachers may get 2 years of pension service added if they taught during the two Covid years, or 1 if they taught one of them, as an incentive to retain what's left of them. The State will be saving a ton from all those that left and there are fewer on the horizon to replace them. No ones going into teaching anymore.

[CTartist]

I have been saying this on City Data in many threads probably for quite some time now.....if everyone is moving down south it becomes a supply and demand situation. All the places that were so "cheap" have become very expensive.

Florida is the least affordable place to live in the U.S.
https://www.cbsnews.com/news/florida...orlando-naples

I have been posting the following data for quite some time too but it seems to mostly fall on deaf ears.

..................................Average House Price..........Household Income
Connecticut..................$318,000............. ............$113,000......................House 2.8 x income
Florida.........................$297,000.......... ...............$80,000........................House 3.7 x income
South Carolina..............$225,000.................... .....$74,000........................House 3 x Income
Texas..........................$247,000........... ...............$87,000........................House 2.8 x Income
https://www.fool.com/the-ascent/rese...se-price-state
https://worldpopulationreview.com/st...ncome-by-state


Now when you look at the house prices add this to the mix. What is probably your next biggest expense? Usually one or two car payments. A $30,000 Honda in CT costs about $30,000 in FL. Who will have the easier time of making one or two more car payments? Groceries will be about the same too. Who has the buying power, CT or the south?

My friends want to move to SC but near a big desirable city. It has been over a year and she and her SO have not found a house because the desirable areas are more than she pulled out of her house in CT when she sold her house last year.

[SteveM85]

Originally Posted by CTartist

I have been saying this on City Data in many threads probably for quite some time now.....if everyone is moving down south it becomes a supply and demand situation. All the places that were so "cheap" have become very expensive.

Florida is the least affordable place to live in the U.S.
https://www.cbsnews.com/news/florida...orlando-naples

I have been posting the following data for quite some time too but it seems to mostly fall on deaf ears.

..................................Average House Price..........Household Income
Connecticut..................$318,000............. ............$113,000......................House 2.8 x income
Florida.........................$297,000.......... ...............$80,000........................House 3.7 x income
South Carolina..............$225,000.................... .....$74,000........................House 3 x Income
Texas..........................$247,000........... ...............$87,000........................House 2.8 x Income
https://www.fool.com/the-ascent/rese...se-price-state
https://worldpopulationreview.com/st...ncome-by-state


Now when you look at the house prices add this to the mix. What is probably your next biggest expense? Usually one or two car payments. A $30,000 Honda in CT costs about $30,000 in FL. Who will have the easier time of making one or two more car payments? Groceries will be about the same too. Who has the buying power, CT or the south?

My friends want to move to SC but near a big desirable city. It has been over a year and she and her SO have not found a house because the desirable areas are more than she pulled out of her house in CT when she sold her house last year.

I was in SC back at Christmas time looking at new construction. I was there last week looking at the same new construction, just different lots. The prices went up $100K from Dec, same models, and it's all selling like hot cakes. It's maddening.
No one cares about car payments and groceries though as long as they're not frozen half to death 8 months out of the year. You don't want to look like Jack Nicholsen at the end of The Shining on Branford beach do you.
It's about lifestyle, weather, golf, beaches, and a lack of 19 year old woke Instagrammers watching you're every move.

[kidyankee764]

Originally Posted by CTartist

I have been saying this on City Data in many threads probably for quite some time now.....if everyone is moving down south it becomes a supply and demand situation. All the places that were so "cheap" have become very expensive.

Florida is the least affordable place to live in the U.S.
https://www.cbsnews.com/news/florida...orlando-naples

I have been posting the following data for quite some time too but it seems to mostly fall on deaf ears.

..................................Average House Price..........Household Income
Connecticut..................$318,000............. ............$113,000......................House 2.8 x income
Florida.........................$297,000.......... ...............$80,000........................House 3.7 x income
South Carolina..............$225,000.................... .....$74,000........................House 3 x Income
Texas..........................$247,000........... ...............$87,000........................House 2.8 x Income
https://www.fool.com/the-ascent/rese...se-price-state
https://worldpopulationreview.com/st...ncome-by-state


Now when you look at the house prices add this to the mix. What is probably your next biggest expense? Usually one or two car payments. A $30,000 Honda in CT costs about $30,000 in FL. Who will have the easier time of making one or two more car payments? Groceries will be about the same too. Who has the buying power, CT or the south?

My friends want to move to SC but near a big desirable city. It has been over a year and she and her SO have not found a house because the desirable areas are more than she pulled out of her house in CT when she sold her house last year.

Sure, but the people moving to FL can very much afford it. It’s the service industry people that are starting to pack up and leave. No middle class person can afford $3,500 in rent for a tiny 1 or 2 bedroom apartment. A 3/2 house not on the water down here just rented for over $8k a month - without a pool.

Rents in greater Miami are now higher than in greater NYC, greater San Francisco and greater LA. And just three years ago, it was far cheaper than all three. That’s not a good thing.

One thing to note, though, is income is rising in FL faster than statistics can be calculated. You’re using outdated data, even if it was from last year (I believe the BEA results are from 2020 census). It’s changed drastically.