Tons moving to PA from NJ NY!? (Philadelphia, York: real estate, to buy)

[bluewin888]

I and my relatives are among the flow


When did this trend start and will continue for long ?



PA housing price are still half of NJ NY price and half tax and maybe better schools.

[Redddog]

I know of several NYC friends that are actively looking in Philly. It's almost unanimous how my friends and family react when they come. It's literally a fraction of the cost here vs NY and the Philly scene is way cooler, most agree. You need a level of "go eff yourself" to live in NY that you really don't need here. Its just so much more livable. Now the die-hard NYers I know swear that they couldn't live without NY - until they come here.

I think that as long as the price of real estate continues to remain as exponentially low as it is in NY, you will definitely continue to see the wave of migration. I think it's even gaining momentum.

[kyb01]

Originally Posted by bluewin888

I and my relatives are among the flow


When did this trend start and will continue for long ?



PA hosing price are still half of NJ NY price and half tax and maybe better schools.

It's been going on for a long time.

Seeing NY license plates in Philadelphia is still quite common, for instance.

[cpomp]

My family noticed an uptick of NY plates in the Main Line area, especially since Covid broke out. And a family friend in real estate has had an increase in purchase inquiries along the Main Line and Bucks County, in the $1-2M range.

I know Philadelphia city is at a general advantage for relocates, but I wonder if some of the regions most desirable suburbs will see an uptick in growth due to people relocating.

[chessimprov]

Originally Posted by cpomp

My family noticed an uptick of NY plates in the Main Line area, especially since Covid broke out. And a family friend in real estate has had an increase in purchase inquiries along the Main Line and Bucks County, in the $1-2M range.

I know Philadelphia city is at a general advantage for relocates, but I wonder if some of the regions most desirable suburbs will see an uptick in growth due to people relocating.

I think Philly and its suburbs will grow in general. Philly is more spacious than NYC and Philly's suburbs are more spacious than downtown Philly. It makes sense that this kind of move could happen. Since many NYC things have to be closed, one isn't necessarily able to fully get their money's worth in taxes in NYC. So, why not reduce that but still have potential accessibility to a lot?

[MarketStEl]

Piling on.

Several agents I've talked to, including one of the top sellers on the Main Line who I quote in my upcoming (August issue) print column, have said they've seen a rising number of inquiries from New Yorkers looking to buy properties in the Philadelphia 'burbs.

The desire for more physical as well as social distance from one's neighbors is one factor driving the interest. The lower cost of housing in the Philadelphia market is the other.

This agent I quote also said to me that city-dwellers here are looking in the suburbs for the first reason as well.

[jessxwrites89]

Me, I prefer to live in NYC. I'm looking into living in NYC before Toronto. More jobs in NYC and better paying too.

[MarketStEl]

Originally Posted by jessxwrites89

Me, I prefer to live in NYC. I'm looking into living in NYC before Toronto. More jobs in NYC and better paying too.

But seriously, check the cost of housing. You might be surprised to find that despite those higher salaries, you will spend more and get less in NYC than you are spending now in Philly.

The Inquirer had an article last summer that had charts breaking down the population flows between New York and Philadelphia (just the cities, not the metros) by New York borough. The flows were net towards Manhattan from Philadelphia and net towards Philadelphia from the other four boroughs, with Staten Island having the smallest difference and Brooklyn the largest.

I quipped to some that the reason for this was that Brooklynites had figured out that they were paying New York prices for the Philadelphia experience and that they could get that for much less by actually moving to Philadelphia.

[jessxwrites89]

Originally Posted by MarketStEl

But seriously, check the cost of housing. You might be surprised to find that despite those higher salaries, you will spend more and get less in NYC than you are spending now in Philly.

The Inquirer had an article last summer that had charts breaking down the population flows between New York and Philadelphia (just the cities, not the metros) by New York borough. The flows were net towards Manhattan from Philadelphia and net towards Philadelphia from the other four boroughs, with Staten Island having the smallest difference and Brooklyn the largest.

I quipped to some that the reason for this was that Brooklynites had figured out that they were paying New York prices for the Philadelphia experience and that they could get that for much less by actually moving to Philadelphia.

I was looking between Staten Island and Brighton Beach. The writing and library jobs are attractive in New York, but I don't plan on moving there long term. Just a few years and then hopefully Toronto. At the end of the day, I would love Toronto, but I need a professional job and I'm just not finding anything in this area. I really want out of health care, I don't like working in health care.

Although, if I got a professional job in Baltimore, I would go to Baltimore too. Baltimore isn't that expensive, but I've heard people complain about taxes. I would have to do some more research because everything I'm seeing, Baltimore is 50% cheaper than King of Prussia and I think it was 20% cheaper than Philadelphia. I can't remember what site the calculator was on, but I think I found it on one of these posts.

[banjozac]

Originally Posted by jessxwrites89

I was looking between Staten Island and Brighton Beach. The writing and library jobs are attractive in New York, but I don't plan on moving there long term. Just a few years and then hopefully Toronto. At the end of the day, I would love Toronto, but I need a professional job and I'm just not finding anything in this area. I really want out of health care, I don't like working in health care.

Although, if I got a professional job in Baltimore, I would go to Baltimore too. Baltimore isn't that expensive, but I've heard people complain about taxes. I would have to do some more research because everything I'm seeing, Baltimore is 50% cheaper than King of Prussia and I think it was 20% cheaper than Philadelphia. I can't remember what site the calculator was on, but I think I found it on one of these posts.

That’s not what this topic is about. Let’s try not to derail this thread.