18 of Top 25 Cities Losing Population Rapidly
The exodus from high tax large cities is occurring faster than the experts have expected. Of the 25 largest cities in the country, 18 lost population from 2000 to 2004. The combination of outrageous housing prices and exorbitant taxation have led to this situation.
The middle class is leaving the cities while the poor and the rich remain. This is not a good mix as the taxes needed to maintain the every growing services the cities require, compounded by the influx of more lower class, will but such a burden on the rich and businesses that they will eventually move out of the regions. Then the cities are in deep trouble.
The Census Bureau measured domestic migration – people moving within the United States – from 1990 to 2000, and from 2000 to 2004. The report provides the number of people moving into and out of each state and the 25 largest metropolitan areas.
The states that attracted the most new residents: Florida, Arizona and Nevada. The states that lost the most: New York, California and Illinois.
Among the 25 largest metropolitan areas, 18 had more people move out than move in from 2000 to 2004. New York, Los Angeles and Chicago – the three biggest metropolitan areas – lost the most residents to domestic moves. The New York metropolitan area had a net loss of more than 210,000 residents a year from 2000 to 2004.
Richard Florida, a professor of public policy at George Mason University, said smaller, wealthier households are replacing larger families in many big metropolitan areas. via AP.org.
Great points Tom - the flavor of the day solution is only adding to the instability and volatility.
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cont from above post.....
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Comment by Chris on 26 May 2009:
Interesting trend I saw at ListingSupply.com: The supply of homes in FL and AZ is falling faster than in most other markets, while the supply of homes for sale in the Chicago area is still increasing. Population growth is the key to economic growth and real estate stability. Just look at China!
Comment by John on 1 June 2009:
This does not show immigration. NY area may have lost people due to domestic migration but has gained hundred of thousands of people overall. Misleading report!
Pingback by The "Beverly Hills of the South"? - City vs. City - Page 22 - City-Data Forum on 30 January 2010:
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