A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South

[Deplorable Yankee]

Some 2.2 million people moved to the Southeast in just over two years. That’s roughly the population of Houston.

The numbers tell the story. For the first time, six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee — are contributing more to the national GDP than the Northeast, with its Washington-New York-Boston corridor, in government figures going back to the 1990s. The switch happened during the pandemic and shows no signs of reverting.

A flood of transplants helped steer about $100 billion in new income to the Southeast in 2020 and 2021 alone, while the Northeast bled out about $60 billion, based on an analysis of recently published Internal Revenue Service data.

The Southeast accounted for more than two-thirds of all job growth across the US since early 2020, almost doubling its pre-pandemic share. And it was home to 10 of the 15 fastest-growing American large cities.

A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South

Some 2.2 million people moved to the Southeast in just over two years. That’s roughly the population of Houston.

www.bloomberg.com

Glad I made it Dec 2016

 

[Pete7469]

I escaped the gulag of NYS in 1998 before it really went to hell. At least we had democrooks like Jimmy Griffin back then who kept the real lunatic commies down. Once the mafia got control of the labor again it all went to hell and the freaks took over.

 

[Harpy Eagle]

Interesting. Thanks for posting.

I have two friends that have moved there in the last couple of years. One moved from Ohio to SC once he was able to get a transfer with his company, the other was a co-worker in St Louis, they retired to Lookout Mountain in TN. Both did so for the weather more than anything else.

 

[shockedcanadian]

People left probably due to the more stringent lockdowns in the North. Lesson learned for them perhaps? Americans cherish freedom. Those with means won't stand idly by.

 

[Harpy Eagle]

People left probably due to the more stringent lockdowns in the North. Lesson learned for them perhaps? Americans cherish freedom. Those with means won't stand idly by.

And reading the article it will only be those with means that are able to move since real estate prices are skyrocketing

 

[1srelluc]

I wish that they would stay the **** where they are. It's near a full time job keeping the Yankee transplants at bay and the greedy-ass gopers from building subdivisions for them.

Of course then they wonder why formerly red counties turn purple then blue.

 

[initforme]

There's no snow down there....pass.

 

[Harpy Eagle]

There's no snow down there....pass.

Which is why a great many are moving there. They grow tired of the harsh winters, not realizing harsh summers are just as bad

 

[Dekster]

Our area has been experiencing this for years to be honest. They are yankees looking for somewhere cheaper and more tolerable to retire than Florida. They can buy or build a much nicer house than they had up north and pocket money from their over-priced yankee homes.

We are also seeing a lot more business investment because all those old tobacco fields make for cheap land if you want to build something big.

 

[Deplorable Yankee]

I read something last night or the night before
Lefties not as many are leaving red states cause they " don't feel safe " it's not only from Florida

I gotta find the article ....cause the picture of one who they featured was a treat ......think 400lbs
Red hair

I watched them flock to the City for over a decade they can stay there ...be glad more are leaving ...they ain't bringing 100 billion lol....just maybe demands

 

[g5000]

Some 2.2 million people moved to the Southeast in just over two years. That’s roughly the population of Houston.

The numbers tell the story. For the first time, six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee — are contributing more to the national GDP than the Northeast, with its Washington-New York-Boston corridor, in government figures going back to the 1990s. The switch happened during the pandemic and shows no signs of reverting.

A flood of transplants helped steer about $100 billion in new income to the Southeast in 2020 and 2021 alone, while the Northeast bled out about $60 billion, based on an analysis of recently published Internal Revenue Service data.

The Southeast accounted for more than two-thirds of all job growth across the US since early 2020, almost doubling its pre-pandemic share. And it was home to 10 of the 15 fastest-growing American large cities.

A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South

Some 2.2 million people moved to the Southeast in just over two years. That’s roughly the population of Houston.

www.bloomberg.com

Glad I made it Dec 2016


View attachment 801858

All those people will turn the South purple, if not blue. Maybe this is the Democrats' version of a "Southern Strategy".


Houses and land are incredibly cheap in the South.

But then you have to live in the South...