What are everybody's thoughts related to the Baby Boomer retirement period we are currently in, and its affect on the real estate market?
I live in Long Island and everyday I hear of someone else say "I'm leaving this highly taxed place" for areas with lower property tax like the North & South Carolina, Georgia, Florida, etc. but there's still such a shortage of houses around here. It seems like it should be the opposite with regards to the inventory.
Are the areas (NC, SC, GA, FL, etc) with lower property taxes booming, with Boomers???
What are everybody's thoughts related to the Baby Boomer retirement period we are currently in, and its affect on the real estate market?
I live in Long Island and everyday I hear of someone else say "I'm leaving this highly taxed place" for areas with lower property tax like the North & South Carolina, Georgia, Florida, etc. but there's still such a shortage of houses around here. It seems like it should be the opposite with regards to the inventory.
Are the areas (NC, SC, GA, FL, etc) with lower property taxes booming, with Boomers???
Hey, My mother in law might be one of the people you are talking about. Leaving Long Island to Atlanta. One of the main reason is the price of house are a lot cheaper. We did the math. She can sell her 1 bedroom condo there and pay in full 2 small houses here in the surbs. She can live in one and collect rent from the other one. Also to be closer to her kids. so why not. :)
What are everybody's thoughts related to the Baby Boomer retirement period we are currently in, and its affect on the real estate market?
I live in Long Island and everyday I hear of someone else say "I'm leaving this highly taxed place" for areas with lower property tax like the North & South Carolina, Georgia, Florida, etc. but there's still such a shortage of houses around here. It seems like it should be the opposite with regards to the inventory.
Are the areas (NC, SC, GA, FL, etc) with lower property taxes booming, with Boomers???
Hey, My mother in law might be one of the people you are talking about. Leaving Long Island to Atlanta. One of the main reason is the price of house are a lot cheaper. We did the math. She can sell her 1 bedroom condo there and pay in full 2 small houses here in the surbs. She can live in one and collect rent from the other one. Also to be closer to her kids. so why not. :)
Mount Pleasant, SC · Member since 2015 · 9 posts · 1 vote
6y
It really seems to be a combination of taxes, weather and family that influence the migration patterns to the Carolinas, Florida, Arizona. Here’s an article that really has some good data on tax rates and where people appear to be migrating to:
Real Estate Broker · Columbia, SC · Member since 2015 · 148 posts · 110 votes
6y
Chris,
We call them "half-backs' here in South Carolina. Folks who move from the Northeast down to Florida, realize that most of Florida doesn't have the weather, the low cost of living or the culture they assumed it had and end up moving half-way back home. Thus ending up in one or another Carolina. But having lived in Boston for years and loving it I agree with Theresa: there are plenty of people who want to live in a city and not one like Atlanta or Charlotte.
And I can see what you and @Theresa Harris are saying, the houses are being swapped with people wanting their chance at living near a big city, I guess I just don't see it as a sustainable trend. The market just keeps rising around here and I can't believe the condition that some of these houses sell for at half a million dollars.