Could be one reason why house prices are flat to down in BA:
People still need somewhere to live. This should be bullish for rents.
@manch refuses to believe price is softening. Furiously looking for reasons for the softening. Told him RE would soften before it happened but refuses to believe, now that has softened, scramble to understand why. Obviously didn’t take decisive actions like @ptiemann.
Rent has already firmed in BA. Price down leads to rent up
Connecticut has been driving out its wealthy residents for a long time
According to the data, 64,381 people moved into Connecticut between 2015 and 2016, bringing an AGI of $3.3 billion.
But during that same period, 84,560 moved out, taking with them an AGI of a little more than $6 billion.
Happening in California now. Present Connecticut is future California. Heed my advice, move out of California ASAP.
From the article, can we conclude that widening wealth divide is due to progressive tax system? Petition for federal to change income tax system to a flat rate system?
Connecticut has a higher stupidity score. Rich people just live there and commute to Manhattan to earn a good income. They want to tax the rich and the rich just move away so they got a negative tax increase. Its stupidity is working wonders and their legislators want to increase tax for the rich due to decreasing tax revenue
Is this how Detroit slipped to its current shape?
BA is still gaining high income people. I think it’s affordability and interest rate causing the price decline last year.
If you move to Texas and keep rentals in California, do you need to pay any California tax on your rental income if it’s positive?
I think Austin could be a good place to live, but weather does not change even when Austin is becoming more wealthy
Have you sold your Cupertino houses yet?
Don’t divert. I did my best. SO said no. I live and die by my SO’s wish.
Data is fact. Can’t disagree with facts. What I am not sure about are the reasons. Whatever they are I don’t think they are long term structural. I am not gonna panic on some short term cyclical ups and downs.
At any rate my properties are pretty widely dispersed and not all dependent on tech companies.
"When you try and soak the rich, often it’s the poor who end up drowning,’’ Liebau said. "We shouldn’t be worrying about income inequality; what we should be looking to solve is opportunity inequality. We should be trying to help everyone rise rather than dragging some people down in the name of making everyone more equal.’’
This guy makes sense.
Everybody told you but you don’t accept. Is structural.
Who are the “everybody”?
Don’t use your wife as an excuse for your own actions.
You will be accused by the trumpeters of something. My boy, the usual zombie for this administration is a coward by not telling you what he told me when I said “move out of California if you don’t like it here”.
By the way, my tax guy told me he had a long line of taxpayers waiting for a miracle so they could deduct property taxes as before. They are future “no GOP” voters for sure.
Keep up GOP, you are doing great!
Oh, you mean those parents paying $ millions to have their kids “accepted” by universities?
Yes, it makes no sense!
We need to ask De Vos and her student loan business. For what she was hired by the vulgar and liar president in the first place.