/California, Other High-Tax States See Mass Exodus, Drive Huge Real Estate Boom

California, Other High-Tax States See Mass Exodus, Drive Huge Real Estate Boom

Real estate executive Rogers Healy says that states with high taxes are seeing a mass exodus of residents as they seek out greener–and cheaper pastures. States with high taxes like California have seen tons of residents move East to places like Texas causing a huge boom in the real estate market. “We’ve never seen something like this” Healy told Fox News host Maria Bartiromo.

Healy, who is based in Dallas, said hundreds of people per day are moving to his city. He pointed out that 70% of the people moving in are from California and increasing “luxury price points.”

This trend is not limited to Texas. The median price of a home is currently at the highest level in history, hovering around $353,000 — a 17% increase from a year ago, according to Realtor.com.

“Homes that historically would sit on the market for 60, 90 days [are now] getting multiple offers the first day on the market,” he said. “So, yeah, we’ve never seen something like this.”

“We’re in the epicenter right here in Dallas, there’s literally never been a better time to be in real estate,” he said. “Once you have, you know, a flood of people moving from affluent, high-tax states, it changes things forever. So I think our new reality is going to settle in and it’s going to be interesting to see what happens.”

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