New York, California exodus continues, but ‘catastrophic effect’ of Biden economy may be on the way: Experts
One business expert said the New York tax base has been 'decimated' by the mass exodus of residents
Nikolas Lanum By Nikolas Lanum Fox News
Published October 13, 2023 4:30am EDT
Americans are continuing to flee liberal states like New York and California for better home prices and taxes, but business experts warn the Biden economy is creating new problems for happy movers.
On Finch Capital founder and real estate investor Steven Pesavento said that during the pandemic, employees realized they no longer needed to live in the cities where they worked, which created new opportunities for a flexible lifestyle.
"It opened up an opportunity for them to get away from, you know, the high cost of living, the kind of oppressive civil policies and business policies, the high taxes, all of those things that they were willing to stay put over because it was what they needed for their job," Pesavento said.
California saw its first-ever population decline in 2020 when the state imposed rigid lockdowns during the COVID-19 pandemic. From January 2020 to July 2022, the state lost well over half a million people, with the number of residents leaving surpassing those moving in by almost 700,000.
more
https://www.foxnews.com/media/new-york-california-exodus-continues-catastrophic-biden-economy-experts
