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Old 05-26-2013, 12:00 PM
 
2,493 posts, read 2,198,382 times
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Quote:
Originally Posted by NC_MVP View Post
I can't understand anything the OP has written.
The OP brought up an interesting question for good discussion, but I have not read any of his/hers follow up posts. Correct spelling, punctuation, sentence structure and the use of paragraphs make good ideas so much easier to read. There are several posters who I never read. Someone can have the arguments/thoughts of the thread, but if they do not present them in a readable format, few people will even read or take seriously.
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Old 05-28-2013, 09:07 PM
 
Location: Mid Atlantic USA
12,341 posts, read 10,339,312 times
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Quote:
Originally Posted by kyle19125 View Post
Philly was long overlooked as major city in the Northeast, probably due in part to the US Department of Transportation and how most traffic to/from points north bypasses the city. It was literally out of the consciousness of many as a result. While affordable in comparison to NYC for example it's no longer the great bargain it was 10-15 years ago. It's also the most heavily wage-taxed city which is something to consider if planning to live there.

Princeton, NJ is why Philly was bypassed by I-95. Look it up. When the interstates were being built, and Philly constructed its share of 95, NJ reneged on its part cause Princeton was adamant no interstate would go thru their town.

That is why I-95 dead ends in Philly, and you have to switch to the NJ turnpike to continue north. And it was NJDOT that did that, not the US DOT.
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Old 05-28-2013, 10:06 PM
 
178 posts, read 238,046 times
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Relative prices are based on relative demand. Philly and Chicago have lower real estate prices because they have less real estate demand.

That's it. It has nothing to do with availability of land, weather, or all this other nonsense. There's no difference in the relative availability of land between, say, NYC and Philly, or between, say Boston and Chicago. The weather in all these cities isn't radically different either.
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Old 05-28-2013, 10:12 PM
 
178 posts, read 238,046 times
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Quote:
Originally Posted by tom77falcons View Post
Princeton, NJ is why Philly was bypassed by I-95. Look it up. When the interstates were being built, and Philly constructed its share of 95, NJ reneged on its part cause Princeton was adamant no interstate would go thru their town.

That is why I-95 dead ends in Philly, and you have to switch to the NJ turnpike to continue north. And it was NJDOT that did that, not the US DOT.
I don't see what this has to do with the conversation, though. You really think that relative metropolitan area prices are based on the alignment of one interstate highway?

Lots of people would argue that it's better if highways don't cut through your urban areas.
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Old 05-29-2013, 07:43 PM
 
357 posts, read 786,002 times
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Quote:
Originally Posted by Hawaii4evr View Post
Not much warmer, but many people do prefer Boston's slightly warmer winters to Chicago. Also, Boston is by some beautiful beaches. Living by the coast tends to attract more people. Chicago does have the Great Lakes, but the ocean is just something else...
Although..some of those Great Lakes are actually more beautiful than their ocean counterparts. I've been so impressed with Michigan beaches (in particular Sleeping Bear Dunes), and have found them far superior to anything I saw when I lived in North Carolina. Many amazing beaches a quick drive from Chicago, and there are nice urban beaches in the city (visitors usually are floored by that)..I think that's unique when I see water that pretty and then look back and see the amazing Chicago skyline. I think with Chicago, it's the zoning and the weather. Everyone who has ever visited me in Chicago has been beyond impressed with it, and said they'd move in a heartbeat if the winters weren't so rough and some may do it anyway. The winters are overhyped though...*shhhh*
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Old 05-29-2013, 09:30 PM
 
357 posts, read 786,002 times
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Quote:
Originally Posted by Almont1 View Post
Relative prices are based on relative demand. Philly and Chicago have lower real estate prices because they have less real estate demand.

That's it. It has nothing to do with availability of land, weather, or all this other nonsense. There's no difference in the relative availability of land between, say, NYC and Philly, or between, say Boston and Chicago. The weather in all these cities isn't radically different either.
I think land/supply is a factor. There are tons of people moving to Sunbelt for example, but prices are largely dictated by supply (the demand is there, but so is the supply).

Look at Chicago on this list, for example. It's a desirable place and only behind two sunbelt towns, but Chicago has never stopped building and seems to be ahead of the curve as housing gets gobbled up in and around the Loop.


U-Haul’s Top 10 US Destinations For 2013 | The Real Estate Bloggers
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Old 05-30-2013, 12:25 AM
 
Location: Atlanta
183 posts, read 241,922 times
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Well NYC is expensive because there isn't any room. Almost all of NYC is on some type of island and there's no space to build new apts. Miami has no room to build and nor does LA or SF. LA and SF have oceans on one side, mountains on the other and Miami has the ocean on one end, and the swamp on the other and the strip in between is narrow. Philly still has land out in the suburbs and no natural barriers and although Chicago has a lake, there aren't natural barriers to the west, therefore extra land to build=cheaper COL
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Old 05-30-2013, 06:10 AM
 
465 posts, read 738,565 times
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Quote:
Originally Posted by raleightransplant View Post
I think land/supply is a factor. There are tons of people moving to Sunbelt for example, but prices are largely dictated by supply (the demand is there, but so is the supply).

Look at Chicago on this list, for example. It's a desirable place and only behind two sunbelt towns, but Chicago has never stopped building and seems to be ahead of the curve as housing gets gobbled up in and around the Loop.


U-Haulís Top 10 US Destinations For 2013 | The Real Estate Bloggers
I don't understand what you mean by land supply. How is there more land supply in the Sunbelt compared to the Rustbelt?

The U-Haul list isn't really relevant to anything. U-Haul doesn't even operate nationally. Obviously they will get the most moves in the cities where they have the highest market share.

If you look at Chicago and Philly, they have no more or less "land supply" than, say DC, or Boston, yet they're cheaper. Obviously there's less demand in Chicago and Philly.
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Old 05-30-2013, 06:13 AM
 
465 posts, read 738,565 times
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Quote:
Originally Posted by smb90 View Post
Well NYC is expensive because there isn't any room. Almost all of NYC is on some type of island and there's no space to build new apts. Miami has no room to build and nor does LA or SF. LA and SF have oceans on one side, mountains on the other and Miami has the ocean on one end, and the swamp on the other and the strip in between is narrow. Philly still has land out in the suburbs and no natural barriers and although Chicago has a lake, there aren't natural barriers to the west, therefore extra land to build=cheaper COL
None of this is true, though. Only a tiny proportion of the NYC Metropolitan area sits on an island.

How does the NYC area have less developable land availability than the Chicago or Philly metropolitan areas? The vast majority of metropolitan NYC lies in NJ, mainland NY State and CT. If you wanted to, you could sprawl all the way north to Boston, and NYC already sprawls south to Philly.

So why is a NYC suburb in NJ much more expensive than a Philly suburb in NJ? It certainly isn't available land.
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Old 05-30-2013, 06:40 AM
 
Location: Manhattan
1,168 posts, read 2,538,233 times
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Chicago is in the Midwest, and Philly is a city that has only recently become a "cool" place to live. Chicago and Philly are also two cities that aren't the best in any field. They're both generally among the best cities to be in for most fields, whereas NYC is the absolute best for finance/banking/publishing/etc., DC for government, Bay Area for high-tech, Boston for biotech/medicine/academia, and LA for entertainment. Being the top location for major industries tends to drive demand, which drives housing costs. SD is sort of an anomaly, but the demand is driven due to it being the most desirable place for those seeking the perfect climate, gorgeous scenery, and an extremely laid back way of life. And then there's Honolulu, extremely expensive because it's so isolated and is pretty much paradise.

Still, I wouldn't call either city affordable. Yea, they're both cheaper than NYC, Honolulu, Bay Area, Boston, DC, LA, and SD...but that is pretty much it. Rentals in both cities are going up rather quickly too, especially in the nice areas.
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