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NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
NY and CA are doing just fine, at least for anyone who bought a house there 30 years ago. The main problem with NY and CA is the cost of housing, not taxes.
NY and CA are losing population and seen as unsustainable to the middle class.and seem to be self sorting into the very rich and very poor, utilizing generous welfare in the states.
Businneses are opting not to be in either state and they still raise taxes for more government actions.
What's the long term outlook here? How can these states continue?
Illinois will collapse first. But NY and CA are not far behind.
Eventually they will, its only a matter of time. The thing is the same is true of the u.s. as a whole, sooner or later that National Debt will have to be faced. Fortunately for most of us here I think its going to be decades and take place when a lot of us are gone. Now for those with children and grandchildren I hope you enjoyed all those Government Programs which they will have to face the repercussions for.
NY and CA are doing just fine, at least for anyone who bought a house there 30 years ago. The main problem with NY and CA is the cost of housing, not taxes.
Not true at all. Taxes are the deal bracket. When the average house on Long Island pays anywhere from $10k - $25k (and many are far higher than that), that raises the mortgage payment $1000 - $2000/mo. Try sustaining that payment if someone loses their job or has to take a lower paying job. Or better yet, try making that payment after you retire and don’t have a pension or retirement savings, which is the majority of people.
In Ny, it is both the cost of housing and the taxes. When I nearly bought a $300k house in Delaware in 2005, the annual property taxes were about $1500/ yr. So, a $270,000 mortgage cake to about $1500 a month. In NY, it would be about $2600. Pretty big difference. Plus, if you retired in DE and you owned the house, you only paid about $750 every 6 months. Here in NY, you are paying nearly double that amount every month. You are basically renting your own house at that point and will be evicted if you cannot afford the taxes.
NY and CA are doing just fine, at least for anyone who bought a house there 30 years ago. The main problem with NY and CA is the cost of housing, not taxes.
Property taxes have driven out at least some of those folks who bought a house 30+ years ago.
Then again, if you bought a house for $150K in 1985 it's now worth $700K so that cash out is pretty bliss.
That kind of **** didn't happen in Akron or Grand Rapids.
Not true at all. Taxes are the deal bracket. When the average house on Long Island pays anywhere from $10k - $25k (and many are far higher than that), that raises the mortgage payment $1000 - $2000/mo. Try sustaining that payment if someone loses their job or has to take a lower paying job. Or better yet, try making that payment after you retire and don’t have a pension or retirement savings, which is the majority of people.
In Ny, it is both the cost of housing and the taxes. When I nearly bought a $300k house in Delaware in 2005, the annual property taxes were about $1500/ yr. So, a $270,000 mortgage cake to about $1500 a month. In NY, it would be about $2600. Pretty big difference. Plus, if you retired in DE and you owned the house, you only paid about $750 every 6 months. Here in NY, you are paying nearly double that amount every month. You are basically renting your own house at that point and will be evicted if you cannot afford the taxes.
And yet people can afford to live there comfortably, otherwise there’d be a mass exodus. The salaries are obviously high enough to support the high COL including the high taxes.
It’s probably cheap to live in Mississippi, but the main employer is probably Wal-Mart.
Not true at all. Taxes are the deal bracket. When the average house on Long Island pays anywhere from $10k - $25k (and many are far higher than that), that raises the mortgage payment $1000 - $2000/mo. Try sustaining that payment if someone loses their job or has to take a lower paying job. Or better yet, try making that payment after you retire and don’t have a pension or retirement savings, which is the majority of people.
In Ny, it is both the cost of housing and the taxes. When I nearly bought a $300k house in Delaware in 2005, the annual property taxes were about $1500/ yr. So, a $270,000 mortgage cake to about $1500 a month. In NY, it would be about $2600. Pretty big difference. Plus, if you retired in DE and you owned the house, you only paid about $750 every 6 months. Here in NY, you are paying nearly double that amount every month. You are basically renting your own house at that point and will be evicted if you cannot afford the taxes.
You can cash out though...as I just noted. Ok, you have to move to Toledo or Little Rock but it's not like the government has systematically screwed over a certain group. They systematically screwed over people evenly depending on your outlook.
You did get to live in greater L.A. or San Francisco for say 30 years instead of Flint. That has to be worth something. Whatever that is...is up to the individual.
And yet people can afford to live there comfortably, otherwise there’d be a mass exodus. The salaries are obviously high enough to support the high COL including the high taxes.
It’s probably cheap to live in Mississippi, but the main employer is probably Wal-Mart.
Team Red only focuses on the taxation part of desirable places. The government is simply raping people who want to live in those desirable places. It's without pride or prejudice. That's what the government does: rape.
The fact remains people want to live in L.A. or San Francisco or NYC because of intangibles that can't be duplicated. Supply and demand, with or without government raping, would/still comes in to play.
There's only one Malibu. There are a few hundred/possibly thousands of Daytons.
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