The Constitutionally mandated enumeration of every America citizen is complete and the details are starting to trickle out of their D.C. repository. Like with every census, there are winners and losers. The losers appear to be the industrial northern regions, which continue to lose populations. The winners... anywhere warm. The south continues to attract population.
What does this mean for real estate and our market? In Michigan, the trend of declining population will delay the recovery of home values. In the south and areas that have an attractional population, will have the ability to more quickly erode their housing inventory. However, in declining population areas, the inventory depletion will be delayed and values will have difficulty rising. Michigan and the industrial north will be forced to reinvent their economies and create favorable taxable situations for their corporations and individuals to turn the tide of population losses around.
If you are wondering Where Americans Are Moving, Forbes published an interesting interactive map that shows the inbound and outbound polulations. I am interested to hear how these shifts are effecting your markets and how you are adjusting to effects on your market.
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