Some NYC residents still choose to move away despite city reopening

ByEyewitness News WABC logo
Wednesday, July 22, 2020
Despite reopening, some NYC residents leaving
Many residents are choosing to relocate to the Catskills or past the northern suburbs of the Hudson Valley.

NEW YORK CITY (WABC) -- After weathering the worst of the pandemic, many New Yorkers are now moving out of the city.

The Catskill Mountains and several stretches of the valley beyond the northern suburbs have been longtime getaways for city residents.

But now, real estate brokers and agents say sales and rental activity is far above normal.

Extremely low mortgage rates are helping the market, as well as more expansive work-from-home policies.

"Since the banking and the technology companies have said to their people, work from home, there is no need for us to be there to service the mass population," said Joyce Lilly, as she moved out of her apartment.

Experts say that despite many residents leaving, it's only a small amount of the 8.3 million population in New York City.

RELATED: Real estate bubble slowly deflating in NYC due to COVID-19


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