The South remains the largest gainer in migration.

Getting a little personal I say? Yeah?
BTW- I bought my own phones back then and didnt pay the phone company fee for having one.
Making fun of young people with cell phones? A bit of a stretch I would say. However many can do without expensive phones and phone plans, as well as music services and others tied to them. Same with costly pay TV services and sports packages. They can do without new expensive cars with greater than 3 or 4 year loans, the list is endless. BTW - TVs adjusted for inflation are much cheaper today as well as all electronics, so let's not leave that out.

Nothing back at me, its all around you if you cant see it, the young live with far more luxury then in the history of mankind. Your turning this personal so I am out
You started blasting the "lazy Gen X" - wasted their money, didn't work hard enough, etc. Thats your standard meme on this board. Cell phone's are always made fun of here - "look at that stupid young person with the expensive phone". But reality is its cheaper adjusted for inflation than that black phone in 1970. So anyone that had a phone in 1970 is a hypocrite to make fun of any young person with a smart phone - all I am saying.

Anyway, I realize you will never be convinced, but I am guessing there are plenty of smart people currently trying to figure out how to not starve to death in N. Korea, and I know plenty of older people here that have lots of money for doing nothing special. Its the way of the world and always has been.

If GEN X can’t afford to retire, it’s because they wasted their earnings on things they could not afford by borrowing money or didn’t work hard enough. By far X benefited most out of any past generation and most likely future generations.
Most live in homes with luxuries and conveniences that their parents never had at their age. Nor drive the vehicles as well as recreational types of vehicles and services that their parents never had. Nor the entertainment/dining choices and extravagant costs that they willingly pay that their parents never had, the list goes on and on.
 
Yes, they went up 100% and now have fallen 5%. THE HORROR!. Below is Orlando.

But yes, Florida has definitely overbuilt. I would not want to live there currently. But much of the new growth is retirees flush with cash to spend so it might be a good place for a while.

View attachment 290015
Isn’t treating the entire state as a uniform entity the same mistake made during the Great Recession?

Naples was one of the first to drop rents and have vacancies increase significantly in 2008 even as values were going up in Florida the last time.

There were areas that steadily inflated in cost throughout the Great Recession as even a block away in some areas are similar to being in a different planet.

Considering there is still heavy inflation and strong dollar devaluation going on required housing deflation by in some cases 50% to align to income and historical norms can’t happen or will be spread out over years as happened the last time. Considering the job market is weak in most sectors I don’t see much chance of housing inflation even as the dollar declines and bonds decline.
With the rather large effort to eliminate the petro dollar standard I only see buying power eroding further.


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I would disagree - GEN X is going to be the biggest beneficiary of Boomers wealth in history, never mind that GEN X benefited from growing up with the wealth thier parents worked for.

That is assuming said boomers don’t have their wealth fully eroded by the time their descendants could inherit it.

The amount of lost fortunes by the boom booms compared to their parents is about 5x.

The number of boomers who start affluently into retirement but end up in destitution before they die has moved lock step.

Many many more sob stories now than even 15 years ago and based on recent changes I only expect this trend to accelerate. (Some states are changing policy so they can try to go after descendants for their parents cost of care)
 
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Isn’t treating the entire state as a uniform entity the same mistake made during the Great Recession?

Naples was one of the first to drop rents and have vacancies increase significantly in 2008 even as values were going up in Florida the last time.

There were areas that steadily inflated in cost throughout the Great Recession as even a block away in some areas are similar to being in a different planet.

Considering there is still heavy inflation and strong dollar devaluation going on required housing deflation by in some cases 50% to align to income and historical norms can’t happen or will be spread out over years as happened the last time. Considering the job market is weak in most sectors I don’t see much chance of housing inflation even as the dollar declines and bonds decline.
With the rather large effort to eliminate the petro dollar standard I only see buying power eroding further.


View attachment 290135View attachment 290136



That is assuming said boomers don’t have their wealth fully eroded by the time their descendants could inherit it.

The amount of lost fortunes by the boom booms compared to their parents is about 5x.

The number of boomers who start affluently into retirement but end up in destitution before they die has moved lock step.

Many many more sob stories now than even 15 years ago and based on recent changes I only expect this trend to accelerate. (Some states are changing policy so they can try to go after descendants for their parents cost of care)
Absolutely. All real estate markets are local. I think you have the same thing in Austin TX - rapidly falling housing, but maybe not for the state as a whole.

Same to be said for all individual retirees and their money are unique. Outliving their savings is a real possibility.

Were talking generalities in this thread. My parents were generally poor, but retired owning everything outright and having a very low cost of living in a low cost area with no real wants to do expensive things - no cruises, no euro trips. They grew a garden and visited friends and family they could drive to. They enjoyed their retirement I think. My dad has left us. My mother is in long term care.
 
You have at least 5 more years of boomer retirement. They think last year might have been peak retiree, but they won't really know for a couple years at least.

GenX can't afford to retire.

GenX, and have been retired for 23+ years. I know a bunch of GenX who are retired also. There's still not enough time in the day for all the things we want to do. Currently in Kent, WA for the main hobby through the weekend.
 
GenX, and have been retired for 23+ years. I know a bunch of GenX who are retired also. There's still not enough time in the day for all the things we want to do. Currently in Kent, WA for the main hobby through the weekend.
You know your the guy included in the rant about prime age men being a freeloader playing video games in their basement ?
(Why I find that argument about 15 million prime age men “outside the workforce” as being considered all non-working freeloaders being laughable)
 
Whenever I see reports from whatever region it might happen to be extolling their successful growth, i think be careful what you wish for. Growth just for growths sake isnt always beneficial. Makes me think of the Eagles song The Last Resort.
 
I would disagree - GEN X is going to be the biggest beneficiary of Boomers wealth in history, never mind that GEN X benefited from growing up with the wealth thier parents worked for.

If GEN X can’t afford to retire, it’s because they wasted their earnings on things they could not afford by borrowing money or didn’t work hard enough. By far X benefited most out of any past generation and most likely future generations.
Most live in homes with luxuries and conveniences that their parents never had at their age. Nor drive the vehicles as well as recreational types of vehicles and services that their parents never had. Nor the entertainment/dining choices and extravagant costs that they willingly pay that their parents never had, the list goes on and on.

The above is just a generalization, of course without question there are many good young people in this country. It’s the land of opportunity and none better on planet earth.

It’s indisputable. There are literally search returns page after page from every publication and investment house in this country.

https://www.bankrate.com/investing/the-great-wealth-transfer/

https://fortune.com/2024/06/23/generation-x-great-wealth-transfer-inheritance-millennials/

https://www.aarp.org/money/personal-finance/generational-wealth-transfer/

https://www.fastcompany.com/9101652...some-gen-x-millennials-gen-z-are-getting-rich
As always, the largest beneficiary by far will be Uncle Sam.
 
True. But a better way to think about it might be to look at spending per capita by state:
View attachment 290103


But this source is better because it gives actual figures:
https://www.kff.org/other/state-indicator/per-capita-state-spending/?activeTab=map&currentTimeframe=0&selectedDistributions=per-capita-state-spending&sortModel={"colId":"Location","sort":"asc"}

As an example, you can see Florida at $5199 with NY at $11170 spending per capita annually.
Spending is taxation because the government can only get money by taking it from you or by borrowing it in your name (backed by future takings) and inflating away the value of your money.

So I fully agree that spending is a better measure. Where it falls apart a bit is at the state level because states can spend money they got from other states... often because Uncle Sugar redistributed to them, but often because it was freely given through interstate commerce.
 
I would disagree - GEN X is going to be the biggest beneficiary of Boomers wealth in history, never mind that GEN X benefited from growing up with the wealth thier parents worked for.

If GEN X can’t afford to retire, it’s because they wasted their earnings on things they could not afford by borrowing money or didn’t work hard enough. By far X benefited most out of any past generation and most likely future generations.
Most live in homes with luxuries and conveniences that their parents never had at their age. Nor drive the vehicles as well as recreational types of vehicles and services that their parents never had. Nor the entertainment/dining choices and extravagant costs that they willingly pay that their parents never had, the list goes on and on.

The above is just a generalization, of course without question there are many good young people in this country. It’s the land of opportunity and none better on planet earth.

It’s indisputable. There are literally search returns page after page from every publication and investment house in this country.

https://www.bankrate.com/investing/the-great-wealth-transfer/

https://fortune.com/2024/06/23/generation-x-great-wealth-transfer-inheritance-millennials/

https://www.aarp.org/money/personal-finance/generational-wealth-transfer/

https://www.fastcompany.com/9101652...some-gen-x-millennials-gen-z-are-getting-rich
Gen X here. I'm not so sure because a lot of that wealth is going to end up paying for end of life care for parents and the parents are also spending like mad. For example, imagine paying $12k/mo at an assisted living center with 24 hr staff.

Sure some wealth will transfer but on an inflation adjusted basis I don't think it's going to be as much.
 
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Absolutely love it here, I have since 2013 when I moved here for College.

I love the weather and never had issues with the wind except when I was doing any fluid changes outside, I have always had sedans/coupes so never had an issues with windy days while driving.

unfortunately I work in IT, and remote jobs are almost non-existent and I might have to move soon.
Well, next time you're out at Curt Gowdy/Vedauwoo, know that someone in Indiana is a little envious ;)
 
You know your the guy included in the rant about prime age men being a freeloader playing video games in their basement ?
(Why I find that argument about 15 million prime age men “outside the workforce” as being considered all non-working freeloaders being laughable)

Nah, I doubt I'd be included in that statistic. As I pursue my main hobby as a consulting business. So as far as .Gov is concerned, I'm still working. I consider it just a hobby, as I don't need to do it, and could quit (and have stepped away for years at a time in the past) at any time.
 
As far as migration, it better keep up here in the Coastal Carolina's.
I live in a county with like 40,000 residental building permits, fastest or 2nd fastest growing in the nation. I dont see how it can happen this fast. Literally must be close to 10,000 new residential housing under construction or breaking ground all at one time. Everywhere we look, 100's of acres cleared, utilities going in. I just dont know how sustainable. I suspect a needed break in the ever increasing costs is just starting to take place. I see massive communities just starting out with a full plate of model homes, that maybe the price point a bit too high. Are we are starting to see the overbuilding vs demand? I dont know, after all two family members from different sides of our families where just here looking, one is certain to buy, maybe this week. I never look to predict housing and it worked out very well for me in the late 90s early 2000s in my real estate practice.

The corporations picked up on it and its kind of needed. New Walmart Super center going in, Costco, Publix supermarket and smaller stores. Just breaking ground. There is literally nothing on RT 17 in this area, even gas stations are scarce.

Time will tell.
Are you not a NC transplant from some far North place?
 
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It is 25 miles to the nearest one for me and I like it that way.

It was once inconvenient to live in a county in which I could not buy a pair of jeans in...but with the advent of online ordering a little pre-planning goes a long way.
Ditto, although I drive past like 2 on the way to work. Best of both worlds: my commute is usually low stress, as it's in the sticks. 51 miles, 55 minutes if I do about the limit? not bad. At the same time, Walmart isn't that far away that I can't run out on the weekend, and usually I can time things to/from work.

Plus online ordering. Although that has its own issues and I don't do that much for clothing as a result.

That actually might be a really good metric. I am going to remember that one.
I usually go by traffic lights. If it has a traffic light... I'm out.

I'm not crazy about the blinking light that I wound up with, it's only a blinking one, but it still feels too much like a big town to me.
 
Are you not a NC transplant from some far North place?
Yes!! Born raised and much of my life on Long Island ... got out of NY (Nassau County) almost 20 years ago. Best decision ever.
Current state North Carolina - Let's see, property taxes $10,000 to $12,000 +++ less a year (not a misprint) on a new home, vs 60 year old Long Island home. Electricity 50% less. People friendly, less stressed, traffic congestion on Long Island twice as bad or more. No NC emissions testing, inspection can be done at an oil change place.

Past state when we left NY - South Carolina Bonus is NO vehicle inspections at all.

One thing we could use more of (though it's expanding) is health care.

What do I miss about Long Island? Boating the Great South Bay though we have the intra coastal here, The Great South Bay is massive and diverse..
With that said, the North Carolina Beaches are superior, seaweed free and clean water.
 
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