Welcome to Extreme Investor Network, where we provide unique insights on economic trends that impact your investment decisions. Today, we are diving into the exodus happening in blue states like California and Illinois, and how it is reshaping the real estate market.
The restrictive policies and high taxes in blue states have been pushing Americans to flee in search of greener pastures. Recent data from the IRS revealed that over 87,000 individuals left Illinois last year, taking with them $10 billion in income that they were providing to the state. The state has lost a staggering $47.5 billion in adjusted gross income over the last six years due to this exodus.
State Senator Andrew Chesney aptly pointed out that Illinois is pushing out the best and brightest with its policies, while attracting individuals who rely on government aid. This trend is unsustainable, with an increasing number of people on handouts and tax money fleeing the state, creating a significant imbalance in state budgets.
The impact of this exodus is not limited to population loss but also has wide-ranging effects on crime rates and economic growth. Chicago, for example, has seen a dramatic rise in crime, with an 82% increase in just two years. The city even resorted to state-run grocery stores due to rampant theft, further highlighting the repercussions of failed policies and mismanagement.
As blue states continue to struggle with these challenges, red states are experiencing a growing population and a flourishing real estate market. The divide between blue and red states is becoming more pronounced, with policies playing a crucial role in shaping the economic landscape.
In a tale of two nations, we are witnessing a shift where successful individuals are fleeing high-tax, high-crime states in favor of business-friendly and safer environments. Red states are emerging as attractive destinations for investors and homebuyers, while blue states are facing a buyer’s market as residents seek better opportunities elsewhere.
At Extreme Investor Network, we provide in-depth analysis and expert insights to help you navigate these economic trends and make informed investment decisions. Stay tuned for more updates on the evolving real estate market and economic landscape.