Wednesday, April 07, 2010

Economy Cools Migration to Cities in the Sun Belt

According to the New York Times, southern and western U.S. cities that attracted waves of newcomers after 2000 expanded less rapidly or lost migrants to other markets in the wake of economic recession and a popped housing bubble, according to new census data.

As an example, only two other cities -- Detroit and Youngstown, Ohio -- registered a higher rate of population decline than Cape Coral/Fort Myers, Fla., which logged the fastest growth during the bubble in the middle of the decade.Other once-popular metro areas that lost more residents than they gained include Las Vegas; Bakersfield, Calif.; and Manhattan.

Demographers say mobility was affected by the recession, because there were no jobs to entice workers to relocate. Moreover, many seniors were stuck with homes that they could not sell or were forced to put off retirement because of eroded savings. "These new data show that the migration slowdown continues and may not let up in the foreseeable future," stated Brookings Institution demographer William Frey.

1 comment:

Richard Stabile Bergen County Real Estate said...

I friend just visited Florida told me some parts are very scary. It is very unsafe. These areas have not pulled back together yet. I agree people don't want to got to a depressed area.