Quote:
Originally Posted by Redddog
Not to mention, the surge of well-healed boomers and Gen-xers who are moving into the city is outpacing the velocity of urban defectors. Beyond the numbers, you can see it all over town but especially in Center City.
I think Philly will have positive numbers well after cities like NY, DC and Boston do for a couple of reasons - cost, as mentioned, is well below the aforementioned cities and the "cool factor" of Philly is starting to become more of a prevalent conversation than in years past. Mix those two things together and you have a powerful draw. It's exactly what ultimately brought me and my wife here. As long-time NYers, we were completely floored by what you can get into in Philly vs NY. Our current situation would require us to have a net worth far exceeding what we actually have if we were living in NY. And that is a theme we hear over and over. NYers are coming - or planning to come - in droves. For good or bad.
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It's a great point but it's all relative and if the trend continues things will only go up, then I wonder where the tipping point will be for people to look elsewhere for affordability. I can be cheap so probably not the best gauge so I always try to remain objective and look around at the people I know who are not and even they are starting to move pretty far out or leave the area entirely. Personal experiences are a drop in the bucket of course but I have been in the area long enough now to see it change and affordable is not a term I would use anymore if you want something in a halfway decent area. Great sign of course and I am not downing that but...
The price of progress I suppose.