Why is Florida full of old folks?

An interesting article that was written for Slate Magazine asks this question and I have always wondered myself. I always thought it was just the weather, but this article claims that there is more to it then that.

Not only did it have good weather but:

"Florida also made economic sense for retirees: The cost of living was low, and the legislature did its best to make homeownership affordable. In 1934, Floridians approved the Homestead Exemption Amendment, which eased the burden on homeowners by exempting property taxes on the first $5,000 of a permanent residence. In 1980, the legislature boosted the exemption to $25,000."

They then said developers started to buy up the area and knew that this would be a gold mine. They created a reputation for being a retirement state.

The rest of the article can be found here.

Published in: on April 13, 2008 at 5:36 pm  Leave a Comment  

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