Migratory patterns of New Yorkers amidst the COVID-19 pandemic and the resulting boom in housing demand in the Hudson Valley
Author(s)Selby, Allison(Allison Janice)
Massachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.
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The COVID-19 pandemic sparked a large-scale migration away from America's cities, including, in particular, New York City. This paper studies the nature of the migration away from NYC: where people moved and was it permanent or temporary. Data shows that approximately 1,100 households changed their address from NYC to Dutchess County, a pastoral area in the Hudson Valley. Over the last decade, there has been an increasing amount of interest in this county due to its fine restaurants, train lines and amenities; the interest there has been compounded by the effect of COVID-19. Demand has outpaced supply, especially during 2020, resulting in a chronic housing shortage. The second part of this paper offers a business plan to answer this market need while offering compelling financial returns.
Thesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, February, 2021Cataloged from the official PDF of thesis.Includes bibliographical references (pages 38-39).
DepartmentMassachusetts Institute of Technology. Center for Real Estate
Massachusetts Institute of Technology
Center for Real Estate. Program in Real Estate Development.