<p>New York isn’t the only state these days with economic brain drain problems it seems - a new bill proposal would provide any graduate of a Massachusetts college (anyone who graduated from a state-accredited post secondary school, vocational-technical program, or apprentice program in the last 10 years) $10,000 for a down payment on a house or condo.</p>
<p>Here’s the catch: the recipient would have to agree to stay in Massachusetts for at least five years, or repay the money with interest. According to the article in the Boston Globe, the response from college campuses in Boston was decidedly mixed as to whether or not incentives/bribes would lure college graduates “to attain the American dream in Massachusetts.”</p>
<p>I could see my kids wanting to move back home to save money rather than sign away five years in exchange for money to buy a condo. This proposal is quite different from the incentive plan in Wisconsin which offers a free ride in exchange for staying in the state for 10 years. The lure here is to own property which does make me think that it will attract students who will be, or who are, in a position to afford footing the costs of a condo etc.- and who probably already have decided that want to live in Mass. </p>
<p>Oh, I’m excited now. We’re going to be in MA at least until I finish my PhD, which will be at least five years. And ten thousand dollars is a lot of money for a grad student couple (although I’m not sure what sort of condo a $10,000 down payment would get you, at least in the city).</p>
<p>Does anyone know where the college grads are moving to? We are getting the same “brain drain” argument where we live as an excuse for pushing this or that civic idea as a way to “keep them”. I have seen or heard this argument in another state, and now Mass. </p>
<p>I suspect that Massachusetts is a net importer of college students. Kids from all over the country go to Mass to go to MIT, Harvard, Smith, etc. Why would the state expect all these kids to stay after school is done?</p>
<p>The MA legislature has been concerned about demographic loss coupled with an aging population. The high cost of housing is a major reason why both companies and individuals seek to relocate elsewhere. </p>
<p>As a ploy to retain highly-educated young people to re-invigorate the workforce, I don’t think this incentive will work out. $10,000 will get you nowhere in the housing market.</p>
<p>In Mass. the deal is not just to stay but to buy property. In New York the brain drain issue is an upstate-downstate economic issue and most of the incentive programs I have heard about offer tuition breaks or grants in exchange for employment. After posting so much on the “New York is the place to be thread” discussion, I had to chuckle at the comment made by the NY student. With this plan, if a student buys into the deal, decides to reside out of state, and winds up paying back the loan, with interest. they still would have bought a house or condo in Mass.</p>
<p>I find it difficult for Mass. to claim a brain drain when it is blessed with so many good colleges populated with so many out of state students. All(and I mean all literally) college recruiting data I have looked at shows that more students accept jobs in state than any other particular state.</p>
<p>I have read articles where NJ seems to validly claim a brain drain because it is the largest exporter of hs grads to out of state colleges. This seems to be a claim with some validity. </p>
<p>OTOH, if all employers are able to fill their entry level openings with competent graduates, is the brain drain issue merely an urban myth?</p>
<p>In either case, if the proposed Mass. policy makes it easier for college grads to invest in that first residence AND it is revenue neutral, I do not see why anyone would object.</p>
<p>It won’t make it easier to buy a house or condo. $10K is a mere drop in the proverbial bucket of the MA real estate market (even though the bottom is still dropping out).</p>
<p>It is no joke that people are leaving in droves. The cost of living is simply too high, and people can live much more affordably in many other areas of the country.</p>
<p>I was in Massachusetts for a long weekend that ended last night and this was quite the topic on the conservative talk shows. The idea was derided. The one valid point I thought the blowhards made was that Massachusetts is quite an expensive place to live, particularly Boston plus the inner and outer suburbs. That there are high taxes goes without saying. At least in [declining] upstate New York you can find an affordable house and reasonable property taxes in cities such as Albany, Troy, Syracuse and Buffalo.</p>
<p>I don’t think that the Massachusetts proposal has anything to do with attracting students. Obviously New England has no problem with that. It appears that young middle-class commonwealth residents are motivated TO LEAVE the place once they get their credentials, particularly the kids who graduate from Massachusetts state colleges and universities.</p>
<p>I found something on google, but I don’t know how to post it here. Look for the United Van Lines 2006 Migration Study. While this just tracks household moves w/o regard to college degrees, it still shows patterns that might relate to the “brain drain”.</p>
<p>The top four receiving states seem to be in the southeast, namely, North Carolina, South Carolina, Alabama, and Tennessee. The rest are out west with Oregon heading that list. One of them is Arizona, and I know our friends in Phoenix have experienced unbelievable growth recently.</p>
<p>Most of the issue is Mass is the cost of living for young folks - ie-college grads - I have 2 now - and neither will reside in Mass and the main reason is $$ - the $10,000 incentive - as many have already posted - is a very small drop in the bucket. Buying property in this state will be good for the state and employers as the multi types of taxes applied to our residents will help the state - what better reason to have college grads stay here - uughh.</p>
<p>Both of my kids have said the same thing - they can’t afford to live in the state they grew up in - that is sad :(</p>
I got overly ambitious a few months ago and convinced myself that my fiance and I should buy a condo or a house. Yeah. It’s not gonna happen in the next five years – we could possibly save enough for a small down payment, if we keep living like misers for the next five years straight. It’s downright depressing.</p>
<p>I graduated from high school and college in Massachusetts. I could never understand why the citizens kept electing overeducated elitist millionaire Democrats to state office. Right now the senators are Kerry and Kennedy, two buffoons who grew up rich, married rich, and couldn’t give a crap about the common man. The people of Mass. deserve what they’ve gotten.</p>
<p>Well, for us it’s not a tax problem – we don’t make enough money to have a tax problem!</p>
<p>The problem is that houses and condos in Boston and the surrounding areas, where recent college grads prefer to live, are very expensive. The one-bedroom apartments we’re looking at for next year (which are not even in Boston or Cambridge) are about three times as expensive as the one where my maid of honor lives in Cincinnati. And my salary is not three times what hers is.</p>