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Author of "101 Projects"
Join Date: Jan 1995
Location: Rolling Hills Estates, CA
Posts: 27,056
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True, but the nice thing about the Republic is that we have 50 states to choose from, so capital will flow from the "loser" states to the "winner" states that attract capital.
Exhibit A is Illinois. I looked at a property there the other day. Offered originally at $1.3M when it was occupied by Chase bank. Now vacant, trying to be "liquidated" at $500K. Property taxes were $48K in 2018 and $62K in 2019 (2020 has not been decided yet!). No thanks. Illinois is on my "DO NOT BUY" list of places. That seems like a no-brainer. New York, New Jersey, Portland - OR, Seattle - WA, and for the most part anywhere in California - also on that list...
-Wayne
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