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Nder_Wiggin t1_jecr349 wrote

Reply to comment by JPAnalyst in Cumulative house price growth (February 2020 to January 2023) by state [OC] by gvillanomics

I find this very interesting because I think as expected the housing market prices are shrinking in most places, except for some states....more then I thought would still be growing.

My hypothesis on why is that either you have to have a lot of money initially before you move and retire in those state (i.e. Maine, Delaware) therefore the price increase doesn't really have much of an affect on you OR you still think that these states are a cheaper cost of living compared to the state in which you currently live (i.e. West Virginia, South Carolina, Arizona, etc...)

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SheSellsSeaShells967 t1_jed1ue0 wrote

People with money have moved to Maine in droves during the pandemic. The problem being for the native Mainers is that we are a pretty poor state and good jobs aren’t plentiful. It has caused a housing crisis. People will jump on me and say that we should go back to school, get better jobs, better ourselves, etc. We’ve heard it all. But it’s not an opinion, it’s a fact that this has had a big impact on the poor and middle class Mainers.

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KevinDean4599 t1_jeejvmr wrote

true. prices in coastal Maine have really shot up. but that's the same issue people in other states like Idaho have. I think things will eventually drop a lot if we have a recession. demand for vacation homes drops a lot during a recession. and many people who retire to Maine may be less than thrilled with the winters and it isn't the best place in terms of taxes. I love the state and would have a place there if it wasn't all the way across the country.

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bor-harbar t1_jefrvnn wrote

me and the boys are plotting ways to start taxing the f*** out of wealthy people here too to pay for all this mess

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Old_Spice_75 t1_jef8lxw wrote

Same situation in coastal Florida. Especially where I am, in the panhandle. The economy in the northern part of our state is cut off from the peninsula. It’s rural and has very little industry. I bet many States are like this: even in CA, agriculture is the business in the interior, rural areas. Prices at the coast are one thing, but local people are effectively being priced out all over.

Once again, the pandemania and excessively low Fed rates are showing their harmful results.

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SheSellsSeaShells967 t1_jefdeuv wrote

We also have outrageously high electric rates. And over the last year they just keep rising with the PUC not seeming to care. I live alone in a small house. I work a lot and I’m away from home quite a bit. And even then I run a light and my television while I’m awake. my bill for last month is $90.

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W4News t1_jedldk0 wrote

But the world's response to demand for Maine residences should be building more. Big job creator.

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Luxypoo t1_jedre4m wrote

Seems like there should be plenty of space and resources

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Bill_Nihilist t1_jee66ee wrote

Is Delaware thought of as expensive? Maybe the beaches? I live in Wilmington and it’s cheap as all get out.

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