Massachusetts Benefits from Reverse Migration
The gap between the Bay State's home prices and destination area's home prices have started to narrow so it's not as advantageous for Bay Staters to move away. This has caused less people to leave the state and might lead to people coming back.
"Meanwhile, the up-scale states—California, New York, New Jersey, and Massachusetts—are seeing fewer residents leave for a lower cost of living elsewhere. And those states benefiting from the previous flight to affordability—Nevada and Arizona in the west; Florida in the south; and Pennsylvania and New Hampshire in the east—have shown slower migration gains or greater declines." according to Brookings Institution's "Housing Bust Shatters State Migration Patterns".
Stemming the tide of Massachusetts residents leaving the state is good news for those of us who own real estate and are planning on staying here for some time.
"Meanwhile, the up-scale states—California, New York, New Jersey, and Massachusetts—are seeing fewer residents leave for a lower cost of living elsewhere. And those states benefiting from the previous flight to affordability—Nevada and Arizona in the west; Florida in the south; and Pennsylvania and New Hampshire in the east—have shown slower migration gains or greater declines." according to Brookings Institution's "Housing Bust Shatters State Migration Patterns".
Stemming the tide of Massachusetts residents leaving the state is good news for those of us who own real estate and are planning on staying here for some time.
0 TrackBacks
Listed below are links to blogs that reference this entry: Massachusetts Benefits from Reverse Migration.
TrackBack URL for this entry: http://www.masshomefinders.com/cgi-sys/cgiwrap/pfrank/managed-mt/mt-tb.cgi/12
Leave a comment