Tax Dollars Heading to Spokane

     In recent years, we've seen an influx of people and businesses moving from larger metropolitan areas to smaller cities like Spokane, WA. This migration is often driven by a desire for a lower cost of living, a better quality of life, and more space. And while there are many factors that go into these decisions, one thing is certain: when people move, their money moves with them. In this blog, we're going to take a look at how this "money walking" affects cities and their tax bases. We'll start with a look at two cities that have been losing population and tax revenue in recent years: Seattle and Los Angeles. Taxpayer Money Leaving Seattle And Los Angeles In the last decade, Seattle has lost over $3 billion in taxable income to other parts of the country. The top destination for those leaving Seattle is Spokane, which has seen a net gain of over $200 million in taxable income since 2010. Los Angeles has also experienced significant out-migration in recent years. Between 2007 and 2016, Los Angeles lost over $5 billion in taxable income to other parts of the country. Like Seattle, the top destination for those leaving Los Angeles is Spokane, which has seen a net gain of over $300 million in taxable income since 2010. Spokane is quickly becoming a desirable destination for people and businesses looking to escape the high cost of living in Seattle and Los Angeles. Thanks to its low cost of living, ample outdoor recreation, and growing job market, Spokane is attracting more and more people each year. As a result, the city is seeing a significant influx of tax revenue from those who are moving here. If you're thinking about making a move to Spokane, you're not alone—and you're certainly not making a bad decision!  

View more

Home Prices in Spokane, WA

Home Prices in Spokane For my super fans who watch my YouTube channel (thanks! 😉), this might sound a little familiar… I said these exact words about 8 months ago in February, before all the craziness happened. But I thought the content was good and still applicable! Currently, our average price in Spokane just fell below $400,000 for the first time in over 8 months. That’s down about 12% from our peak in June/July. That’s a pretty sharp decline but we are still up 5.6% from this time last year. So until we see a year-over-year decline in home prices, we’re still doing okay—just not printing as much money as we had hoped. The point I want to make is that we should think of real estate like any other investment. Real Estate is an Investment. We should think of real estate like any other investment—there will be ups and downs, but overall it is a solid long-term investment. Right now, home prices are down but they will rebound eventually. If you are thinking of buying a home, now might be a good time to start looking because there are some great deals out there! Of course, you always want to consult with a professional before making any major financial decisions and remember that real estate is a long-term investment. If you are patient and ride out the ups and downs, you will eventually come out ahead! Though home prices are down right now, they will rebound eventually. If you are thinking of buying a home, now might be a good time to start looking because there are some great deals out there! Just remember that real estate is a long-term investment—if you are patient and ride out the ups and downs, you will eventually come out ahead!

View more