Former residents of California who have moved to states like Tennessee and Florida are regretting their decision and are deciding to move back home. This is according to real estate mogul Kurt Rappaport during an interview with TMZ Live host Harvey Levin. Rappaport says that many of his clients, who are usually wealthy, moved away during the pandemic for financial reasons.
State income tax in California is as high as 12.3% while Texas has zero state income tax. The same story is true in Tennessee and Florida. However, many of his clients look back on their time living in Los Angeles with fondness. They regret moving to their new residence and become homesick.
Harvey Levin also decided to throw some political jabs into the mix, saying that recent laws in red states are driving the reverse exodus back home. Levin brought up the issue of recent mass shootings, laws against drag shows in front of children, and other things. Rappaport agreed with the political issues.
Ultimately, California is still experiencing a net loss away from the urban centers of Los Angeles and San Francisco and from the entire state as a whole. While many are going back to the state, many more are leaving with no plans of returning. And residents of red states where ex-Californians flee to aren’t going to lose much sleep if their new neighbors decide to pack up and go home.