The cost of living is skyrocketing in certain “migration destination” cities where those fleeing mostly blue states are landing, according to a newly released report.
Redfin released the analysis, which shows that cities like Atlanta, Phoenix and Tampa have seen higher rates of inflation than the country overall. According to the report, those increases are “double the inflation rates in San Francisco and New York, places people are moving away from.”
“Migration into those places is one reason for rapidly rising prices of consumer goods and services,” Redfin said. “Because of high inflation, including rising home prices, the financial advantage of living in what are now relatively affordable places is likely to diminish.”Read More