THE NOT-SO-GREAT MIGRATION

U.S. Census data from July 1, 2007, to July 1, 2008, indicates that the recession has slowed migration from the Northeast and Midwest to the Sunbelt and the West. Fewer people moved due to the weak job market and home-price declines. Connecticut, Massachusetts, New Jersey and New York posted growth rates exceeding those recorded during the housing boom; but Arizona, Florida, Georgia, Nevada, North Carolina and Tennessee – which welcomed flocks of new residents during the boom – experienced a slowdown in population growth. In Florida, 9,300 fewer people moved into the state than left during the year-over-year period ended in July, mainly as a result of the housing slump. The report also reveals a 10 percent drop in the immigration rate from the average yearly rate recorded since 2000.

Source: Wall Street Journal (12/23/08) P. A4; Dougherty, Conor
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