Anthony LoPinto

Not surprisingly, the Wall Street Journal ran a front page feature yesterday reporting that workers are leaving the largest cities in droves and taking their jobs with them. When Congress passed the tax reform act that eliminated the deductibility of state and local taxes from federal returns, it set the stage for an exodus that has yet to be fully appreciated by the high-tax states that are about to lose massive revenues, not just from the "rich" but the regular folks. To the point, the WSJ article reported that there is an exodus by mid-cap consultant types from expensive urban centers toward cheaper cities such as Boise, Austin, and Portland where life is good and the cost of living is comparatively affordable. There is a wrinkle however. What made those cities attractive will soon find that growth is a two edge sword. Just ask the folks in LA who settled there in 1965.

 

|

Job Listings

 

Recommended For You

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.