Phantom Exodus to Suburbs Driven by Phony Cost Comparisons (New York)

If Tara Siegel Bernard of The New York Times is right, (city of) New Yorkers must be among the most irrational people in the world. In "High-Rise or House with Yard," she describes the purported financial advantages of living in a co-op apartment in Brooklyn versus suburban South Orange, New Jersey.

The irrationality is that, despite the money that households can save by staying in the city, a netmore than 350,000 left for the suburbs between 2000 and 2007, as E. J. McMahon and I found inEmpire State Exodus, which summarized IRS inter-county migration data. Indeed, each of the city’s five boroughs lost domestic migrants to the suburbs during the period. An analysis by The New York Times itself found that the city had lost net domestic migrants to every suburban county in the metropolitan area as well as to every county in newly exurban northeastern Pennsylvania. This includes Allentown-Bethlehem and Scranton-Wilkes Barre, toward which New Jersey land use regulations have driven new development.

More at….


Leave a comment

Filed under Uncategorized

Comments are closed.