N.J.'s population shifting to coast, south (Jersey City, Camden: transplants, real estate)

[Wonderful Jellal]

New Jersey's population continued to shift away from its traditional bastions in the last decade. Densely settled areas near New York City experienced stagnation or decline, while areas outside Philadelphia and in the state's coastal and southern sections gained population.

N.J.'s population shifting to coast, south - USATODAY.com

[Nexis4Jersey]

I guess its time to Restore the MOM network and extend the Riverline ....

[bradykp]

i think this speaks more to the success of Philadelphia and it's surrounding areas than the decline of the NY Metro area. Hoboken grew a tremendous amount over the past decade. As did Weehawken, Edgewater, Fort Lee, and Jersey City. Hoboken was around 40,000 residents in 2000, now it's nearly 50,000+. I'd hardly call that stagnation. lol

but it's nice to see other parts of the state growing as well.

[BobKovacs]

Originally Posted by bradykp

i think this speaks more to the success of Philadelphia and it's surrounding areas than the decline of the NY Metro area. Hoboken grew a tremendous amount over the past decade. As did Weehawken, Edgewater, Fort Lee, and Jersey City. Hoboken was around 40,000 residents in 2000, now it's nearly 50,000+. I'd hardly call that stagnation. lol

but it's nice to see other parts of the state growing as well.

I think it speaks more to the real estate prices and taxes in northern NJ- more and more people are being priced out of the area, and have to either extend their commutes or find work elsewhere. Now that you can't get a no-doc, no-down, interest-only reverse mortgage on a $600k house with a $50k/year salary, it's harder to swing northern NJ.

[stressedCollegeGirl89]

Now if only Atlantic/Cape May Counties experienced this kind of popularity...does that mean we will have a better rail network? lol!

[NJGOAT]

Originally Posted by BobKovacs

I think it speaks more to the real estate prices and taxes in northern NJ- more and more people are being priced out of the area, and have to either extend their commutes or find work elsewhere. Now that you can't get a no-doc, no-down, interest-only reverse mortgage on a $600k house with a $50k/year salary, it's harder to swing northern NJ.

I think that has a lot to do with it. I was absolutely floored to find out how many people from North Jersey were transplants in the Moorestown, Marlton, Mt. Laurel area and still commuted to jobs in NYC and the metro area daily. Their reasoning was that they could afford a lot more house, the taxes were less of a burden and the schools were just as good and in some cases better. Their only general gripe was needing to have satellite TV so they could get NY sports.

[bradykp]

Originally Posted by BobKovacs

I think it speaks more to the real estate prices and taxes in northern NJ- more and more people are being priced out of the area, and have to either extend their commutes or find work elsewhere. Now that you can't get a no-doc, no-down, interest-only reverse mortgage on a $600k house with a $50k/year salary, it's harder to swing northern NJ.

yet people are still buying the houses. sure, lower prices, but it's still happening. it's growing slower than the south, it's not shrinking. isn't that what happens to an area that's saturated?

[Marv95]

Originally Posted by bradykp

i think this speaks more to the success of Philadelphia and it's surrounding areas than the decline of the NY Metro area. Hoboken grew a tremendous amount over the past decade. As did Weehawken, Edgewater, Fort Lee, and Jersey City. Hoboken was around 40,000 residents in 2000, now it's nearly 50,000+. I'd hardly call that stagnation. lol

NYC transplants.

[mike0421]

Originally Posted by NJGOAT

I think that has a lot to do with it. I was absolutely floored to find out how many people from North Jersey were transplants in the Moorestown, Marlton, Mt. Laurel area and still commuted to jobs in NYC and the metro area daily. Their reasoning was that they could afford a lot more house, the taxes were less of a burden and the schools were just as good and in some cases better. Their only general gripe was needing to have satellite TV so they could get NY sports.

It really comes down to people wanting more 'stuff' for what they otherwise couldn't afford living closer to their jobs. The idea of families uprooting from Northern NJ to Monroe/Northampton County PA or Burlington/Camden Counties and keeping their NYC area salaries is foreign to me. In essence, the choice is exchanging money for time. However, the loss of time in one's home thereby negates the access or enjoyment of newly acquired 'stuff' around their homes, i.e. the satellite TV to watch NY teams. If you are spending 25 hours a week commuting to and from work, that's akin to one seventh of your week on the road. Yet, people still consciously opt for this choice, at the expense of being away from their families and bigger homes.

[bradykp]

Originally Posted by Marv95

NYC transplants.

so?