Friday, September 25, 2020

"Will The Great American Migration From Cities Last?"

From Upfina: 
....The Great Migration
This spring we all were wondering if people actually were moving to the suburbs like some feared. We only had anecdotal evidence. Plus, we had basic logic that people might want to avoid COVID-19. It’s also notable that millennials are getting into their 30s which is when most people start families. Families are usually raised in the suburbs rather than the city because there is more space in the suburbs and it’s cheaper. That’s an additional layer that few discuss. This migration may have happened anyway. COVID-19 is just causing it to happen all at once.
We now have hard evidence that Americans are actually moving away from cities. As you can see from the chart above, the survey preference of home buyers shows there was an 18 point jump in those wanting to move to a rural area, the suburbs, or a small town from before the pandemic to late-July. There will probably be some reversion in this data once the pandemic is over....