Earlier quoted context omitted.
Second map is "Percent of housing units that are vacation homes".
My point would be: the second map belongs in the article because it is informative. The first one does not.
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Where are vacation homes located in the US?
21–30 of 108 posts
Re: Where are vacation homes located in the US?
#22Dear map makers who show us by-state break-downs: normalize by the population. The first map tells me this: New York, Florida, and Texas have large populations.
Is that appropriate in this case? I would expect lots of vacation homes be owned by people out of state.
Re: Where are vacation homes located in the US?
#23The largest generation in US history is retiring and buying property in the state with no income tax.
This explains very little. State income tax is based on your state of residence, not where you have a vacation home, in which by definition you do not live most of the year. Further, it makes no sense to refer to "the state with no income tax", as there are many of those.
Granted, there are some working-age people who buy a vacation home with the thought of moving into it permanently a decade or two into the future, but those plans entail a lot of uncertainty (health, closeness to family) and of course once they move, it is no longer a vacation home.
Re: Where are vacation homes located in the US?
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Re: Where are vacation homes located in the US?
#25Re: Where are vacation homes located in the US?
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Re: Where are vacation homes located in the US?
#27I suspect the "vacation" homes on Manhattan are really mostly empty luxury units for foreign rich people to park money in the US. "Billionaires Row" near Central Park is half empty for just this reason.
Re: Where are vacation homes located in the US?
#28I suspect the "vacation" homes on Manhattan are really mostly empty luxury units for foreign rich people to park money in the US. "Billionaires Row" near Central Park is half empty for just this reason.
Shower thought, maybe bitcoin is actually good for the environment, if it replaces even more wasteful ways of trying to park wealth.
Re: Where are vacation homes located in the US?
#29The largest generation in US history is retiring and buying property in the state with no income tax.
This is not even logical, retired people don't have incomes. Anyways, they get them with insane property taxes.
Depends how much money you retired with. When the ratio of your net worth to the cost of a house is high enough, property taxes are trivial. Let's say you have $50 million and you earn 7% a year on that. That's $3.5 million a year. Well worth it to live in FL to save the $350K you would lose every year in NY / CA.
Re: Where are vacation homes located in the US?
#30The largest generation in US history is retiring and buying property in the state with no income tax.
This is not even logical, retired people don't have incomes. Anyways, they get them with insane property taxes.
New York state has a number of exemptions for property tax for seniors (65+), which seems like a better mechanism than California's prop 13.