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<blockquote data-quote="Doctor Futurity" data-source="post: 9082816" data-attributes="member: 10738"><p>It's a boon if you're the Seattleite moving to that state, but as my own state is learning this has dire consequences locally. In New Mexico the average median household income is lower than a Seattle single income (<a href="https://www.justice.gov/ust/eo/bapcpa/20220401/bci_data/median_income_table.htm" target="_blank">source</a>), but housing has skyrocketed to unaffordability for locals because of so many out of state people coming here. The result is a housing crisis that's insane. I know of people with 9-10 family members struggling to afford 2 bedroom apartments because no one can afford a $2800 a month, 30 year mortgage on a house all of a sudden. Houses that were "ok" purchases for $150K just five years ago jumped to $350K or more now, in "so so" neighborhoods, and trashy houses in the local equivalent of the ghetto are commanding $200K or more. I hadn't even made the connection that this was driven by out-of-state buyers until my realtor tipped me off on why I keep losing bids.....I may do well locally as a business owner, but I can't compete with the out of state incomes rolling in.</p></blockquote><p></p>
[QUOTE="Doctor Futurity, post: 9082816, member: 10738"] It's a boon if you're the Seattleite moving to that state, but as my own state is learning this has dire consequences locally. In New Mexico the average median household income is lower than a Seattle single income ([URL='https://www.justice.gov/ust/eo/bapcpa/20220401/bci_data/median_income_table.htm']source[/URL]), but housing has skyrocketed to unaffordability for locals because of so many out of state people coming here. The result is a housing crisis that's insane. I know of people with 9-10 family members struggling to afford 2 bedroom apartments because no one can afford a $2800 a month, 30 year mortgage on a house all of a sudden. Houses that were "ok" purchases for $150K just five years ago jumped to $350K or more now, in "so so" neighborhoods, and trashy houses in the local equivalent of the ghetto are commanding $200K or more. I hadn't even made the connection that this was driven by out-of-state buyers until my realtor tipped me off on why I keep losing bids.....I may do well locally as a business owner, but I can't compete with the out of state incomes rolling in. [/QUOTE]
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