I moved to TX to avoid state income tax. My sharing of this article might be pure confirmation bias...but then again: https://www.wsj.com/articles/so-long-california-sayonara-new-york-1524611900 …
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The article only briefly mentions it but I think it's equally interesting how this will affect real estate prices, rents. Because that's plaguing NY and California as well (but I don't have to tell you this).
It definitely will, but it will also affect different types of real estate differently. For example, on the super high end this may not matter because those guys aren't paying NYC taxes anyways. Of course there are other things at play, see my retweet of tokyo real estate prices.
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Yes it's quite hard to predict the overall effect. I saw the Tokyo tweet. I think that's more tricky to compare because you have to factor in different GDP/capita but also the Yen/USD exchange rates.
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E.g. a typical engineer salary in NY is ~ same as in Munich when EUR/USD=1.4, but not when 1.0 :)
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