Quote:
Originally Posted by TiltonBB
The number of high income people in New Hampshire will certainly increase as more people find working from home works just fine.
People continue to flee the big cities and residential and commercial vacancy rates are climbing. Those people have to go somewhere and low tax rate states like New Hampshire and Florida are attractive if you have a large earned income.
A recent survey of moving companies showed that 7 out of 10 residential moves in New Jersey were to new homes out of state. At some point the states that have relied on the taxes from the high income people will go bankrupt. States like New Hampshire can only benefit but property values will continue to rise because of the increased demand.
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NJ has been net migration negative for some time - so that’s not abnormal. We were looking in the cherry hill area maybe 15 years ago. $350k house - $12,000 per year property taxes, living in a fishbowl with no land.
There may or may not be a direct correlation to that- and us coming back to NH. (Again)
09-19-2020, 10:05 PM
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