Who's leaving Illinois?

Investment Analysis Clubs Macro Economic Trends and Risks
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A lot of Illinois refugees out there.

Wirepoints yearly out-migration research shows Illinois’ net loss of households to other states occurs in every single income and age bracket the IRS tracks. What often gets the most attention is the flight of older, wealthier residents to other states. Their exodus has the biggest immediate impact on Illinois’ tax base…

But what’s most concerning is the hollowing out of the state’s future – the loss of Illinois’ young, wealthy, upwardly-mobile, taxpaying millennials. A Wirepoints analysis of the latest IRS migration data from tax year 2022 shows Illinois was the 2nd-biggest loser nationally of households aged 26 to 35 with incomes greater than $200,000…

Unsurprisingly, zero-income tax states Florida and Texas were the big winners of the upwardly-mobile millennials…This cohort is taking significant wealth out of the state. The average income (Adjusted Gross Income) for those leavers in 2022 was $435,000.

DB2

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I think we know Illinois’ huge pension liability bill will eventually come due. Property owners in Illinois will most likely pay the bill one way or another.

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I mean tbf theres all of 1 big city in the state. More affordable than most big cities on the coasts but still, not a ton of mid sized options with things to do for the young upwardly mobile or recently retired unless you want to be in chicago

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Wrong! Those are just the symptom. What should concern Illinois are rhe reasons why people are leaving.

I know why people are leaving Venezuela. The country didn’t change, the government changed.

The Captain

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