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Top 20 Cities Americans Are Ditching


These Are the Top 20 Cities Americans Are Ditching Bloomberg Business

Source: http://www.bloomberg.com/news/articles/2...

New York City, Los Angeles, Honolulu: They're all places you would think would be popular destinations for Americans. So it might come as a surprise that these are among the cities U.S. residents are fleeing in droves. 

The map below shows the 20 metropolitan areas that lost the greatest share of local people to other parts of the country between July 2013 and July 2014, according to a Bloomberg News analysis of U.S. Census Bureau data. The New York City area ranked 2nd, losing about a net 163,000 U.S. residents, closely followed by a couple surrounding suburbs in Connecticut. Honolulu ranked fourth and Los Angeles ranked 14th. The Bloomberg calculations looked at the 100 most populous U.S. metropolitan areas. 

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LA is the only California city in the top 20?! That's surprising. 

Then again these "losses" are rounding errors that don't make the housing market any cheaper. 

Yah, how does less demand translate into higher prices?

Because there isn't much less demand.

Even losing 1% of its population like El Paso did, doesn't really reduce the demand for housing.

The bigger question is: Where are they going?

A little bit of an answer

"This is part of a multiple-decade trend of the U.S. population moving away from these manufacturing hubs to areas in the Sun Belt and the Pacific Northwest, Stoll said. Retiring baby boomers are also leaving the Northeast and migrating to more affordable places with better climates.

This explains why the majority of metropolitan areas in Florida and Texas, as well as west-coast cities like Portland, had an influx of people."

I think affordability and climate are the main reason people are moving out of those cities. 

And yes, it was good to ask the question where they're going. 

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