Saturday, July 10, 2010

U-Haul Index: LeBron's Not the Only One Leaving

One-way rental rates for a 26-foot U-Haul truck on August 4, 2010:

Miami, FL to Cleveland, OH: $1,000
Cleveland, OH to Miami, FL: $1,457
Premium to leave Ohio: 45.7%

Orlando, FL to Cleveland, OH: $834
Cleveland, OH to Orlando, FL: $1,301
Premium to leave Ohio: 56%

Tampa, FL to Cleveland, OH: $917
Cleveland, OH to Tampa, FL: $,1379
Premium to leave Ohio: 50.4%

Assuming that one-way U-Haul rates are based on relative demand, there are lot more people and trucks leaving Ohio for Florida than vice-versa, resulting in large premiums to rent trucks going to Florida and large discounts for trucks going to Ohio. 

15 Comments:

At 7/10/2010 1:46 PM, Blogger juandos said...

Well Professor Mark there's a very similer situation between New York city and Miami...

According to the Empire Center For New York State Policy there has been an exodus out of New York state: 'Households moving out of New York State had average incomes 13 percent higher than those moving into New York during the most recent year for which such data are available. In 2006-07 alone, the migration flow out of New York drained $4.3 billion in taxpayer income from the state'...

Using your 26' U-Haul example I got the following:

New York city to Miami - 26' truck - $1,408.00

Miami to New York city -26' truck - $1,044.00

Art Laffer & Steve Moore last year in an opinion piece in the WSJ: Soak the Rich, Lose the Rich
Americans know how to use the moving van to escape high taxes

 
At 7/10/2010 6:12 PM, Blogger Chris Tune said...

This would have the "frosting on the cake", if you would join up the relative taxation stats from those two states, and maybe add in current unemployment stats too. My guess, without even looking, is that Florida is either a low tax, or, like Texas, a No Tax state. Employment is probably at least somewhat better in Florida, and that state is likely more conservative, with pockets of liberals having migrated from New York and nearby, in order to retire.

 
At 7/10/2010 7:34 PM, Anonymous Anonymous said...

Cleveland is another American industrial city sacrificed to the great god free trade.

Before free trade Americans earned as much as double what European workers made. Then you could pay the high taxes in Cleveland and still live well.

 
At 7/10/2010 9:08 PM, Anonymous Ralph Short said...

Cleveland is like almost every other major city in the USA. It is high taxes, high crime, and liberal government. The result is real citizens leave and the bottom feeders take over.

 
At 7/10/2010 9:10 PM, Anonymous American Delight said...

Hey, Anonymous, you sound like one of the 50 percent of people who don't even pay taxes.

 
At 7/11/2010 1:51 PM, Blogger Ron H. said...

"Before free trade Americans earned as much as double what European workers made."

What possible value is there to a measurement that only rates our well being as compared to Europeans? Improvements in THEIR condition doesn't mean that US workers are less well-off on an absolute scale.

US workers don't lose when Europeans gain. Why would you wish them to remain poor?

If anything, free trade makes everyone better off.

 
At 7/11/2010 2:10 PM, Blogger sethstorm said...

As an Ohioan, I'm not surprised. However, if you make a point of leaving Ohio the way Art Modell or Lebron James did, do not be surprised to see our state disown you. Do not be surprised if we extend that to anyone you deal with that is still in Ohio.

That said, leave Ohio honestly, quietly and with no fanfare. You might just be able to visit Ohio without fear of your own life.


Soak the Rich, Lose the Rich

There's a difference between someone who wants to move versus a person who just wants to spite. If you're doing it to spite people and purposefully delay a recovery, there is no good that can come of you.

These are people that largely (in the case of spite) discover that they can't shake down government for extra cash. Do not be surprised if they are called out, tarred, feathered, or worse. The government does not work that way.

I'm surprised that Dr. Perry hasn't said something about Youngstown - where they had to be business-friendly to survive. They managed to do it while not going the route of Texas.

 
At 7/11/2010 2:50 PM, Blogger juandos said...

"That said, leave Ohio honestly, quietly and with no fanfare. You might just be able to visit Ohio without fear of your own life"...

This country needs Ohio (its liberals actually) like Custer needed another indian at Little-Bighorn...

Hey sethstorm is this your source for economic information?

 
At 7/11/2010 3:16 PM, Blogger sethstorm said...


Hey sethstorm is this your source for economic information?

No.

There have been other affluent, notable ex-Ohioans that have not made a point of spiting the state. They don't get disowned, don't need security to travel through and generally are welcomed.

One of them even makes yearly appearances on sports programs. However, they do not fit the conservative narrative.

 
At 7/11/2010 3:26 PM, Blogger Ron H. said...

"This country needs Ohio (its liberals actually) like Custer needed another indian at Little-Bighorn..."

Now that's funny, juandos, thanks for the laugh.

 
At 7/11/2010 3:28 PM, Blogger Ron H. said...

sethstorm!! Welcome back. You haven't commented just lately. I was afraid you had been forced to go to work, or something.

 
At 7/11/2010 7:05 PM, Blogger sethstorm said...


sethstorm!! Welcome back. You haven't commented just lately. I was afraid you had been forced to go to work, or something.

Even if there was force in the matter, I'd still find time to post.

 
At 7/11/2010 11:21 PM, Blogger Ron H. said...

This comment has been removed by the author.

 
At 7/11/2010 11:27 PM, Blogger Ron H. said...

"Even if there was force in the matter, I'd still find time to post."

What a man!

Like those resistance fighters in France during WWII, with their secret radios, you will risk arrest, torture, even death - or in your case, the agony of being employed - to make sure we get our daily dose of drivel.

 
At 7/12/2010 6:33 PM, Anonymous Anonymous said...

As someone who escaped Cleveland to go to college and refuses to go back I understand why people would want to leave.

 

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