Home » real estate indicators » New York Seeing A Reverse Migration From Long Island?

New York Seeing A Reverse Migration From Long Island?

As a boy growing up on the south shore of Long Island it seemed that everyone I knew had family that moved from the city. It could have been Brooklyn, Queens, or the Bronx, and even the few that left Manhattan, but it seemed that was the natural evolution in life.

Your ancestors arrived from Europe, lived in the city for a couple of generations and then bought a home in the suburbs of Long Island.

But an interesting phenomenon is happening, there is a reverse migration from the suburbs of Long Island back to New York City. And I am not only talking about those getting a condo in Manhattan. The revitalization of the city under Giuliani and Blomberg has now created movement back to the boroughs of Queens and Brooklyn for Long Islanders.

And it is not surprising with the high taxes and slump in schools on Long Island, much of the charm owning the 3 bedroom ranch out on da’ Island is gone.

In the past few years, other Long Island agencies have been strategizing on inroads into the Big Apple, where market, migration and other patterns have come together to make the city look a little more lucrative than the suburbs. Decades ago, crime, congestion, the high cost of living and not-so-great schools launched a wave of eastward migration, including white flight, to Long Island. But now, the city’s market outshines the Island’s, with enough business to convince one of Long Island’s biggest firms, Daniel Gale Sotheby’s International Realty, to plan for its first Queens office.

New York City has been in the midst of a renaissance. City and civic leaders have launched revitalization projects in long-ignored areas, such as the Rockaways. Gentrification has made places like Brooklyn and Harlem great investments. Crime and congestion have either been addressed or neutralized in many neighborhoods, as the ‘burbs become built up and property tax bills surpass city ones. via Newsday.com.

Tags: , , , , , Reverse+Migration

2 comments

  1. This article seems to be more about the Realtors heading west for more business opportunities than about any kind of mass migration by homebuyers.

    To quote the Newsday.com article:

    "…more than 61,000 Long Island residents in 1995 had moved to New York City by 2000, according to U.S. Census figures."

    Well, those figures account for moves well before the boom years, and certainly don't indicate any current trend.

    The numbers indicate an average of 12,200 residents moving west per year. Considering overall population, that number is, quite frankly, minuscule.

    Heck, those numbers are from the last century, yet the article portends to report on some trend of the 21st century!

    So, I don't see how the stats support any notion that Long Islanders are suddenly moving into New York City in any large numbers.

    What I think the article really says is, "WOW! We Realtors made so much money during the boom years, let's expand our business. We've already opened our own mortgage companies, title companies, insurance agencies, hmm…where to go? Where to go? Ahh! New York City!"

    I'm a mortgage broker on Long Island and I do business in the five boroughs, Nassau and Suffolk. I can't recall a single client in the last TEN years or more (I'm in the biz 18) who told me they needed a mortgage for their move WEST into NYC.

    I did see a lot of folks moving out of NY altogether in the 2 years immediately after 9/11.

    Just my opinion and my read on the article, and my experience "on the street."

  2. Glad to hear that NYC is being revitalized. Now, if they’d only–ever–get rid of their crazy, Post WW II rent controls, this revitalization could be breathtaking.

    –Jack Payne
    http://www.sixhrs.com

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>