It’s no secret that some of America’s largest cities are losing residents .And while New York’s losses slowed in 2022, the nation’s largest metropolitan area has seen substantial declines since the COVID-19 pandemic reshaped the world’s work and leisure habits.
So where is everyone headed? South, it turns out.
Don’t miss Commercial real estate has outperformed the S&P 500 over 25 years.Here’s how to diversify your portfolio without the headache of being a landlord
Rich young Americans have lost confidence in the stock market — and are betting on these 3 assets instead .Get in now for strong long-term tailwinds
Super-rich Americans are snatching up prime real estate abroad as US housing slumps — but here’s a sharp way to invest without having to move overseas
New York is shrinking According to Census Bureau data , between April 2020 and July 2022, New York’s estimated population slumped from 8.80 million to 8.34 million, a drop of roughly 468,000 residents — nearly 5.3% of the city’s total population.Much of this loss was recorded between 2020 and 2021.
San Francisco lost 7.5% of its residents between 2020 and 2022, accounting for a greater loss of total population than New York.
So where did all those residents land? Census data indicates many went south.Georgetown, Texas saw a huge spike in population: more than 14.4% in 2022 alone.In fact, four out of the top five cities with populations of 50,000 or more that saw the biggest population increases were in Texas.
Additionally, more than 126,000 New Yorkers have exchanged their drivers licenses for Florida identifications since the beginning of 2021, according to Fox Business, which cited data from the Florida’s Department of Highway Safety and Motor Vehicles.
Read more: Thanks to Jeff Bezos, you can now use $100 to cash in on prime real estate — without the headache of being a landlord.
Here’s how
What comes next? The end of lockdowns and the return to office life has seems to have lured some people back to the Big Apple.New York County, which includes Manhattan, added more than 17,000 residents in the year ending July 2022.
Story continues Will New York resume its pre-pandemic growth trajectory? Big metros will always have the headaches of bad traffic, a high cost of living and overcrowding.
But it’s not as though New York doesn’t have advantages, either.And when you include the city’s sports scene, attractions, culture and vast public transit network, it’s no wonder the “I Love New York” slogan has been a keeper since 1977.
What to read next Worried about the economy? Here are the best shock-proof assets for your portfolio.(They’re all outside of the stock market.)
The US dollar has lost 98% of its purchasing power since 1971 — invest in this stable asset before you lose your retirement fund
Jeff Bezos and Oprah Winfrey invest in this asset to keep their wealth safe — you may want to do the same in 2023
This article provides information only and should not be construed as advice.
It is provided without warranty of any kind.
TRENDING 1.Padres push back against reports there’s a lack of leadership in a dysfunctional franchise 2.
Analysis: Vikings, Chargers traded inexplicable decisions; Jets’ commitment to Wilson still baffling 3.102-loss Royals have turned out to be quite the spoilers against playoff-chasing Houston 4.Sports scoreboard for Sunday, Sept.24, 2023 5.
McDaniels says he has confidence in offense, despite opting for FG late in game.
