Northeasterners flocked to Florida to reduce their spend on rent and dish out less in taxes. The influx has since caused increased mortgage rates that are eroding the state’s all-alluring aff…
While the price of single-family homes in Florida flattened this year for the first time since 2011, the 50% growth over the past three years has priced out locals.
“Spring prompted more activity in Orlando’s housing market this month, [and a] higher demand from buyers pushes asking prices higher, even with more inventor,” the report said.The number of people migrating to the Sunshine State has dropped the past three years.In 2022, that figure dipped to 58% and so far in 2023, it sits at 56%.
Workers with a $650,000 salary in New York face an effective tax rate of 45% in New York — when you factor federal, state and local taxes — which drops to 35% as Miami resident.
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