The reason a lot of people in blue cities don't know how shit things are is:
1) They bought their houses years ago.
2) They refinanced to a 3% rate in 2020.
3) Their property tax assessment (and thus taxes) is like 50% or less what the house sells for.
4) They either never had kids or they grew up aren't going to the shitty schools anymore.
In other words their personal financial situation still resembles the 1990s/2000s renaissance of the cities, because that's when they bought in and locked in.
The problem these cities have no new blood can buy in. The 3% rates are gone. The property taxes reset on purchase. And they can't afford private school. So they move to Tampa, FL.
I can’t believe that out of nowhere this “abundance” thing has appeared and people are taking it seriously. Like, look around! Do you see abundance? I don’t.
“enshittified blue cities and states” may be my new favorite phrase. Searingly accurate.
California's population dropped between 2020-23. Starting in 23 it has been growing again healthily but at a slower rate than pre-COVID.
The reason a lot of people in blue cities don't know how shit things are is:
1) They bought their houses years ago.
2) They refinanced to a 3% rate in 2020.
3) Their property tax assessment (and thus taxes) is like 50% or less what the house sells for.
4) They either never had kids or they grew up aren't going to the shitty schools anymore.
In other words their personal financial situation still resembles the 1990s/2000s renaissance of the cities, because that's when they bought in and locked in.
The problem these cities have no new blood can buy in. The 3% rates are gone. The property taxes reset on purchase. And they can't afford private school. So they move to Tampa, FL.
I can’t believe that out of nowhere this “abundance” thing has appeared and people are taking it seriously. Like, look around! Do you see abundance? I don’t.
Make the Caldwell article open access pls.
Well done.