People aren't moving because the rich would rather pay a little extra and do what they want.
What I find interesting is that, in following the California real estate market for the last two years in preparation to moving there, there is a drop in demand for high-end housing since the tax law took effect. The combination of higher taxes and lower mortgage deductions has kept a lot of people from buying bigger houses. I've also seen a lot of empty-nesters downsizing.
What I find interesting is that, in following the California real estate market for the last two years in preparation to moving there, there is a drop in demand for high-end housing since the tax law took effect. The combination of higher taxes and lower mortgage deductions has kept a lot of people from buying bigger houses. I've also seen a lot of empty-nesters downsizing.