Theres a generational rift that will stop a lot of decaying areas from seeing repopulatin from newer generations.
My wife and I saving to house shop soonish, but one of the primary requirements of our residency will be transit access. We don't like driving, don't like having to own a car, and definitely do not want to have to drive up and down the east coast to visit friends and family. Amtrak access is thus basically required, and anywhere we can avoid buying a car to live is valued dramatically higher than alternatives.
Its a growing sentiment the younger you get, where the veneer of the 50s American dream is more and more eroded and we are realizing humans in the 21st century should be living denser, with public transit, and walkable access to day to day needs, than to live in gated communities without a sidewalk or any human contact.
And 99.9% of US real estate is built up totally in antithesis of this, largely on racist fundamentals dating to the early 20th century.
Like we legit were looking at areas and when talking about just over the DC border into MD the conversation always immediately goes to "yes the properties are a third cheaper, but theres no metro access" and its just off the radar. Pittsburgh is our joke city since it has no usable Amtrak routes out of it (and yes, I know its urban core is nice, but its also tiny and unable to grow).
None of these decaying places can afford the capital investment to redevelop to be walkable and sustainably dense. They already are burdened to maintain a million acres of suburbia that is all tax negative. And nobody wants a "top down" solution that involves displacing millions to redevelop cities so the demographic trends going forward want to live there.
For anyone looking, Philly is actually pretty affordable. Its combined income tax is 6% in the state, the sales tax isn't outrageous, and property costs are a fraction of NYC or DC. Its definitely near the top of our list considering how unaffordable the parts of Portland, Seattle, and Baltimore with transit are.
I medically can't drive, and my other half doesn't want to drive. I see this as well, a number of my circle also want walkable/transit areas. In the states it's NYC, Philly, Boston, Chicago, San Fran, Seattle and a bit more. I feel like I need to leave just to get a sane metro area.
I'm in NYC now, but keep circling back to Philly. We're renting for ~3200 now a one bedroom 650sqft in NYC, both work from home. To get the ideal separation we want, not have our joint offices in the living room, we would need to go to between $5,500 and $6,500. While in Philly we could get a trinity, small town house three floors plus basement, about 900sqft, in downtown for ~2200.
I wouldn't buy in Philly, I just don't trust the city planning at this point. They're trying, but it's an uphill battle. The tax situation as a self-employed was much more complex in Philly. Safety is not something to just shy away. I lived in Old City, two years back, and there were still shootings near my apartment. It's a problem in a lot of cities as we gut social spending and relief programs. Philly did open a safe injection site, and is making head way.
I really like Philly, close to NYC Megabus was 15$ a seat, and about 3 hours. Amtrak is even quicker. Great music and food scene, Reading is great for food / produce.
The biggest issue I've found is the job market. Locally, a lot shifted out to office parks, requiring regional rail, and walking along multi-lane roads. If you're working remote, I got cost of living adjusted like crazy. The quotes I got were 80% pay cut over my NYC rate. While local jobs, were only a 10% cut. The local tech scene is a bit behind, more legacy.
Comcast has a great VC program as well for startups. The city also has tax programs to help get startups in the area.
> I'm in NYC now, but keep circling back to Philly. We're renting for ~3200 now a one bedroom 650sqft in NYC, both work from home. ... While in Philly we could get a trinity, small town house three floors plus basement, about 900sqft, in downtown for ~2200.
Where in NYC are you and how does it compare to downtown philly? $3500 NYC rent means you're living in a hip/gentrified neighborhood. You can certainly find cheaper apartments if you are willing to go deeper into Queens. Whole houses? They exist but are in the 4-6k range as well ( friends aunt rents a home in belle harbor for something like 4-5k/month). By me (ozone park) the rent is not that high (~1600+)and we have plenty of busses and the A train. Further north is woodhaven with busses and J&Z train. You can go further east but you are now past most subways.
My wife and I saving to house shop soonish, but one of the primary requirements of our residency will be transit access. We don't like driving, don't like having to own a car, and definitely do not want to have to drive up and down the east coast to visit friends and family. Amtrak access is thus basically required, and anywhere we can avoid buying a car to live is valued dramatically higher than alternatives.
Its a growing sentiment the younger you get, where the veneer of the 50s American dream is more and more eroded and we are realizing humans in the 21st century should be living denser, with public transit, and walkable access to day to day needs, than to live in gated communities without a sidewalk or any human contact.
And 99.9% of US real estate is built up totally in antithesis of this, largely on racist fundamentals dating to the early 20th century.
Like we legit were looking at areas and when talking about just over the DC border into MD the conversation always immediately goes to "yes the properties are a third cheaper, but theres no metro access" and its just off the radar. Pittsburgh is our joke city since it has no usable Amtrak routes out of it (and yes, I know its urban core is nice, but its also tiny and unable to grow).
None of these decaying places can afford the capital investment to redevelop to be walkable and sustainably dense. They already are burdened to maintain a million acres of suburbia that is all tax negative. And nobody wants a "top down" solution that involves displacing millions to redevelop cities so the demographic trends going forward want to live there.
For anyone looking, Philly is actually pretty affordable. Its combined income tax is 6% in the state, the sales tax isn't outrageous, and property costs are a fraction of NYC or DC. Its definitely near the top of our list considering how unaffordable the parts of Portland, Seattle, and Baltimore with transit are.