I’ve absorbed a flurry of input this week from news articles, NJTV, a symposium presentation and social media discussion all on the topic of economic migration trends within the U.S. The NJCPA has taken up this issue as it relates the the “wealth drain” in New Jersey.
The pattern that is emerging is that the majority of migration is driven by an intent to lower housing costs. New Yorkers are moving to New Jersey and Philadelphia. Philadelphians are moving to Pittsburgh. Others are moving to Cleveland.
It remains unclear what net effect this migration has on any specific state’s economy.