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I wonder where the people in your last sentence would go??? You said you moved from Jamestown to Narragansett but that's still a pricey location.
If you're mortgage - less, it's possible to sell in JTN, then move over to Narragansett or South Kingstown, duplicate your JTN house there AND put $300,000 cash in your pocket for your trouble. Families with children are doing it. Real estate markets on different planets.
Last edited by independent man; 01-02-2021 at 10:26 AM..
It's likely that most are leaving Rhode Island altogether. This holds true for all of high tax/high COL New England, with Connecticut and Rhode Island leading the way. The Northeast is simply not a region on the way up.
Not all true. New Hampshire and Maine both have more Americans moving in that out.
If you're mortgage - less, it's possible to sell in JTN, then move over to Narragansett or South Kingstown, duplicate your JTN house there AND put $300,000 cash in your pocket for your trouble. Families with children are doing it. Real estate markets on different planets.
You act like Jamestown is leaps above Narragansett or other similar places when in fact home prices there are only slightly above, while Narragansett is actually holding its value better and seeing higher appreciation. Pocketing $300K with that move is not at all realistic without a significant downsize.
Not all true. New Hampshire and Maine both have more Americans moving in that out.
In the Northeast, CT, NY, and RI are currently shedding population. MA, NH, ME, VT, PA and NJ are increasing in popualtion, albeit at a far slower pace than the national average.
In the Northeast, CT, NY, and RI are currently shedding population. MA, NH, ME, VT, PA and NJ are increasing in popualtion, albeit at a far slower pace than the national average.
MA also lost people last year, based on estimates. I believe only NH and ME grew (although very slightly) in 2020.
You act like Jamestown is leaps above Narragansett or other similar places when in fact home prices there are only slightly above, while Narragansett is actually holding its value better and seeing higher appreciation. Pocketing $300K with that move is not at all realistic without a significant downsize.
An average house selling today for $600,000 in Jamestown can be duplicated in Narragansett or SK for $300,000. But, I'm sure from the woods of Maine, you know better. So, I'll defer.
An average house selling today for $600,000 in Jamestown can be duplicated in Narragansett or SK for $300,000. But, I'm sure from the woods of Maine, you know better. So, I'll defer.
Cut/pasting random house listings to try to prove a point means nothing. Other than you don't know anything about Rhode Island real estate. Especially, Jamestown, Rhode Island.
Some might say "screw it" and move out of state. Many of those are likely older and pushing retirement (the type that would eventually move to Florida anyway, now they'll just do it sooner), or they might move to a cheaper place like West Warwick or further down around Westerly. Or downgrade to something smaller/less desirable locally.
Agreed. A cheaper town if they have family and friends here or finally pulling the rip cord and moving to a place they have always wanted to live with a lower cost of living. I don't think I've ever been to Florida without bumping into someone from RI.
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