How many people are actually fleeing to the suburbs permanently?

 

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You’ve seen the headlines: “Coronavirus Escape: To the Suburbs” in the New York Times, “Coronavirus: Americans flee cities for the suburbs” in USA Today, “Will the Coronavirus Make the Suburbs Popular Again?” in Architectural Digest.

The coronavirus pandemic’s stay-at-home orders have residents of dense urban areas like New York City pondering a permanent move to somewhere more spread-out for obvious reasons: more space, more land, lower prices.

Mulling the decision to leave New York has almost reached cliche status (there’s even a Leaving New York” essay genre, as the Times notes points out).

As more New Yorkers leave, it invites near-constant speculation about a “mass exodus” out of cities. But are the folks skipping town getting outsized attention? Are there really that many people moving away—for good?

Continue reading… “How many people are actually fleeing to the suburbs permanently?”

Is it better to rent or buy a home? Comparing the monthly costs

rent vs buy

Renting vs. owning

Ever since the financial crisis left many Americans in dire financial straits, the debate over renting versus buying a home has heated up. American households’ spending on housing is on average 33% of their annual expenses, but until recently we didn’t have data to show the differences in costs between monthly mortgage payments versus rent.

 

 

Continue reading… “Is it better to rent or buy a home? Comparing the monthly costs”

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