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Old Posted Jul 28, 2022, 2:38 PM
EastSideHBG's Avatar
EastSideHBG EastSideHBG is offline
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Join Date: Jul 2001
Location: Philadelphia Metro
Posts: 10,805
Quote:
Originally Posted by UrbanRevival View Post
The migration trend comes as a surprise to no one, but still very interesting that the difference between Philly's local vs. transplant housing budgets is the greatest in the US and that remote work is such a big factor:



https://www.redfin.com/news/migrant-local-homebuying-budget-2022/
This is what has been destroying other cities e.g. Miami and I have concerns about how this will play out. But one thing to consider is that life is slowly returning to "normal" so some of these people may realize that they liked where they came from better (but if they bought property and hang on to it to rent it out, this won't help the situation much).

This was interesting also:

Three-quarters of millennials living in Philly grew up nearby, per a new census study

People with wealthier parents were more likely to leave the Philadelphia region.
https://billypenn.com/2022/07/27/millennials-migration-moving-philadelphia-new-york-new-jersey/
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