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Hopefully this exodus is accompanied with a pop of that real estate bubble. I'd love to get back to WA, but housing costs are untenable for somebody like me that makes a good, but not spectacular wage.
The new bill that passed mandating a capital gains tax may cause some to leave.. what do you think?
I tend to think no one tax increase causes people to leave. It's always the 'straw the breaks the camels back' situation. Meaning a tax increase happened on top of other mismanagement, crime, bad regulations and whatnot. I don't think rich people would have a problem with paying a higher capital gains tax if they weren't demonized to begin with. Also if the tax revenue was being spent correctly, like forcing the chronic homeless into drug rehab. I and many other people are sick and tired of told that we are evil because of our race, sex, income status. Then they take our hard-earned money and spend it on useless programs or even worse, outright malevolent stuff like CRT. Very few people are true Ayn Rand-ists who want no government. We want good government.
... For years, leaders in state government have been increasing the tax burden and imposing ever-tighter regulations that limit personal opportunity, lower household incomes and fall hardest on working people, middle-class families and small business owners. On top of that statewide trend, Washington recently experienced deadly political violence in its largest city, accompanied by rising crime, public camping and drug use, and similar signs of widespread lawlessness.
The latest annual report from U-Haul on some 2 million, one-way household moves in 2020 shows Washington dropping precipitously from the coveted number five spot as most desired place to live all the way down to number 36. That position of unpopularity is not as bad as California’s, at number 50. But it is a long way from top-ranked Tennessee, Texas and Florida as the most-sought destinations for one-way U-Haul movers.
... Still, to fall 31 places in one year is no compliment and reflects the fact that, in a year that was tough on everyone, people in Washington had it tougher than most. The governor’s coronavirus executive orders, issued in March, remain firmly in place, with little sign of wider economic opening, easing of social restrictions or a return to normal public school operations (although most private schools have managed to open and operate under social-distancing restrictions).
The result is an economic and emotional strain that feels worse every passing week. While other states and even whole countries are progressively opening their economies with health guidelines, Washington, California and others remain in a limited lockdown. ...
If these are progressives moving, I hope they've learned their lesson and won't be exporting their destructive policies elsewhere.
ROFL
That is a completely clueless interpretation of the data.
Seattle and Washington having become more connected with the world of big business in recent decades has merely caused the movers and shakers to be here in greater numbers to begin with, and in no way does the awesome Mecca that some see as Washington State mean or suggest that movers and shakers will cease moving and shaking.
IF you studied the same data for "podunk"... almost zero movers and shakers would move there, and almost zero movers and shakers would move out. Ergo their "places" on such lists would remain stagnant.
But once you join the BIG world, of course movers and shakers are going to come and go, following newer opportunities all the while.
The whole mention of "One-way household moves" gives away the complete stupidity in your data...
For how many round-trip household moves can be documented in any fashion?
Of course this stupid sh*t would be published in Ritzville.
Cinema cat - you need to understand the difference between correlation and causation. First get the GED. There are multiple explanations why people may move from expensive places. A common one is that they have been working at high-paying jobs and own houses that would sell for more than a million . That may just be a decent size house in Seattle but they can move to a place like NM or much of Texas and get a house and 50 acres for the same price.
Texas's property tax is actually higher than Washington but many move to Texas because its much cheaper. In El Paso its not hard to find a nice house for $100 a sq ft.
Texas's property tax is actually higher than Washington but many move to Texas because its much cheaper. In El Paso its not hard to find a nice house for $100 a sq ft.
I'm not in TX, but I paid $15/sqft for my house. Sure beats $300-400+.
Will be among those that have left next week. Primarily to be closer to parents/in-laws as they are getting older. But the straw that broke the camel's back was definitely last year's fire season(and this year's looming one).
Taxes? Moving to Ohio where the tax picture is much worse. They have a state income tax, city income tax, property tax 3x the rate, and a comparable sales tax. All that easily eats up the difference in real estate prices when it comes down to the mortgage payment even though the house itself is significantly cheaper.
We may be round trippers after the parents pass. Get ourselves something out on the coast.
The new bill that passed mandating a capital gains tax may cause some to leave.. what do you think?
If you read through the entire bill this will be only affecting individuals with annualized capital gains profits of $250K over more, Real Estate is not included. I tend to believe this will only effect a very small minority of people. Even for someone with $1M in capital gains profits in 2022, I don't tend to think someone who enjoys their life here will relocate of $70K or less. This mostly targets to ultra rich with $100M + tied into the stock market who typically would liquidate large assets at a time.
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