Its a slow down in the south...

Today on the watch, this article was posted “Housing slump causes more people to stay put”, by Amy Hoak which points out that some of the Mid-Western cities are keeping people, rather then losing people. This is unlike a few years ago where Sotuhern cities in the United States experienced a huge growth rate and Mid- Western cities were losing.

“According to U.S. Census Bureau estimates, the city's population rose 0.3%
between July 2006 and July 2007. While the growth may look paltry compared with
other U.S. cities', it hints at how the sluggish housing market and the credit
crunch is affecting migration trends, demographers say.”

Hoak gives a few reasons for this, but mainly she blames it on the current to real estate market.

“As home prices have plunged, many homeowners who want to move are staying put
instead of selling for less than what they think their homes are worth.”

It looks like more people are staying put rather then flocking to the warmer weather of the South. I’m not sure if I agree with all of Hoak’s points in the article. I would think that it’s not just due to the Real Estate market, but rather energy prices and the local job market.

A lot of Mid-Western major cities have very good job markets. I know for a fact, MN is home to many fortune 500 companies, which people come form all over the world to work for.

Factoid: Plymouth, MN was voted number one city to live in by Money Magazine in 2008!! The Mid-West can’t be that bad.