USA: New migration trends published in a report by Realtor.com revealed Americans who had the economic mobility to pick up their bags and bug out during the pandemic fled from expensive coastal cities and liberal technology hubs to Sun Belt states, according to Bloomberg.
Realtor.com used two years of rent data (March 2020 to March 2022) to determine the fastest and slowest rent growth cities. They found the most rapid rent growth in the country was in the Miami metropolitan area, which jumped an astonishing 58% over the last two years, with a median rent of about $2,988. Other cities with high rent growth include Riverside, California; Tampa, Florida; Memphis, Tennessee; Orlando, Florida; and Las Vegas, among other cities across the Sun Belt region. Many of these areas are warm and considered areas that are tax-friendly.
Now for the exodus. Rent growth in some Northeast and Mid-Atlantic cities was flat to negative. Buffalo, New York and Washington, D.C. recorded negative to flat rent growth over the last two years. Rents were muted in liberal technology hubs, such as San Jose, California; San Francisco, California; and Seattle, Washington.
This data suggests that millions of Americans fled liberal utopian metro areas for ones in the Sun Belt (we explained this last year with U-Haul trucking data), where taxes and crime are much lower. The trend could persist as the cost of living is much lower in those areas as inflation is at a four-decade high.
by Tyler Durden
Join: 👉 https://t.me/acnewspatriots
The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the views of AC.NEWS
Disclaimer: This article may contain statements that reflect the opinion of the author. The contents of this article are of sole responsibility of the author(s). AC.News will not be responsible for any inaccurate or incorrect statement in this article www.ac.news websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner. Reprinting this article: Non-commercial use OK. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Discussion about this post