Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Goodbye, New York, California and Illinois – Hello where?

bloomberg.com

Post reply on HN
Print view View original

31–40 of 718 posts

Re: Goodbye, New York, California and Illinois – Hello where?

#31

Post by blahneverdies »

tardo99 wrote: post #3

I live in California. An interesting thing we learned is that if we move out of the country for, say, 3 years, unless we set up our lives so we have no intention of remaining California residents, the state will continue to pursue us for income taxes even while overseas. Federal law has a different system which makes more sense -- a tax exemption while overseas. Given that we expect to spend a substantial amount of t…

Not sure why this was down-voted, but this has been one of my concerns about ever moving to CA in the first place--I wouldn't want to be stalked by this predatory creature for the rest of my life. (And have already experienced this to a lesser degree with a couple of other-coast states.)

Re: Goodbye, New York, California and Illinois – Hello where?

#32

Post by QuercusMax »

volkk wrote: post #29

What's the story behind the more affluent going to Wyoming? Would love to understand this

Probably a tax dodge / vacation home thing. I have no actual information to back this up, but usually when rich people start moving somewhere it's to save money.

Re: Goodbye, New York, California and Illinois – Hello where?

#33

Post by zone411 »

yboris wrote: post #2

Would be great if their charts were showing % rather than absolute numbers (or at least would show % in addition to absolute numbers). It shouldn't be too surprising: California and New York are in top 5 by population size. ps - their use of "hemorrhaging" to describe movement of people feels inappropriate.

My company did a map like this. The highest percentages in 2015-2016 are HI to CA, WY to CO, ND to MN, DE to PA, NH to MA, NM to TX, KS to MO, OR to WA. A map without neighboring states is more interesting.

Re: Goodbye, New York, California and Illinois – Hello where?

#34

Post by [deleted] »

option wrote: post #25
triceratops wrote: post #8

Earlier quoted context omitted.

> $600k avg home price. > homeless encampments on our bike trails These seem linked somehow...

Are they really? An honest question - suppose the housing does a nosedive to 100K. I still find it hard to believe that those living on the streets in tents with no jobs will rush to buy houses. The other category of “invisible” homeless - those living in cars and at friends places/garages will of course benefit if the average price of the housing drops

[deleted]

Re: Goodbye, New York, California and Illinois – Hello where?

#35

Post by OrangeMango »

blululu wrote: post #13
ourmandave wrote: post #5

The numbers are shown in tables with Net Migration (taxpayers and dependents) and their Average Income of departing taxpayers. So 75,386 (taxpayers and dependents) moved from IL to FL and their average income was $135K. That seems to imply that they all took their high paying jobs with them somehow.

This may be slightly skewed by the effect of retirees (people earn the most before they retire). Illinois has high taxes and terrible weather. A lot of affluent people leave the state and retire to Florida. I'm not sure if the article's analysis is really concerned with these nuances.

> Illinois has high taxes and terrible weather

Illinois has a flat income tax; at $135k income you would only be beat by the states that have no income tax (like Florida). Most of the states on that list also have weather that is either terrible in the summer or terrible in the winter, so I doubt that weather is really a factor in people moving.

Re: Goodbye, New York, California and Illinois – Hello where?

#39

Post by michaelbuckbee »

option wrote: post #25
triceratops wrote: post #8

Earlier quoted context omitted.

> $600k avg home price. > homeless encampments on our bike trails These seem linked somehow...

Are they really? An honest question - suppose the housing does a nosedive to 100K. I still find it hard to believe that those living on the streets in tents with no jobs will rush to buy houses. The other category of “invisible” homeless - those living in cars and at friends places/garages will of course benefit if the average price of the housing drops

I think "linked" is probably the right term. It's certainly a spectrum of people with issues (substance abuse, mental health, opportunity, bad luck).

A drop in housing prices doesn't immediately fix any of those things, but it unlocks some options. Looking at Zillow, rent of a 1 bedroom unit is around $2000/mo (put another way, that's 100% of the income of a person working at minimum wage), that's just an impossible situation.

If housing prices come down, rents come down, the most functional 1/3 of the homeless population gets off the street, resources can be applied to the more difficult cases, etc.

Re: Goodbye, New York, California and Illinois – Hello where?

#40

Post by vondur »

Pretty easy to figure out in California. High cost of living, crime is out of control, homeless taking over parts of the city. Our state government is either unwilling or unable to address these issues. So sale your overpriced property and move to a state with more sensible policies and taxes. Seems pretty reasonable.
Post reply on HN