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New York State had the largest population loss of any of the 10 states that saw declines between July 2018 and July 2019, as New York and the Northeast region as a whole continued to see people leave for other parts of the United States,
“This decline was due to net domestic migration,” the bureau reported, referring to when people leave one state for another, “which offset population gains from natural increase and net international migration.”
Between 2010 and 2019, the bureau estimated New York lost nearly 1.4 million domestic migrants.
https://www.newsday.com/news/region-state/new-york-population-decline-census-1.40070613
Comment:
Naturally, people would ask, why did the prices climb? All I can think of right now is falling mortgage rates gave artificial balls to buyers and flippers. Then add the growing number of get rich quick Nouveau flippers. If there is 1000 flippers and each has 1 flip, in inventory, that 1000 empty houses in limbo land or inventory.
If there are 10,000 Nouveau flippers, and each one has 2 empty houses to flip, that’s 20,000 nicely renovated empty houses that need a person to buy them. My guess on Long Island with 3 million people there must be a lot more that 10,000 Nouveau flippers around, and a lot more than 20,000 houses in inventory. Also I’ve noticed a growing number of bank owned foreclosures hitting the market.
The real estate market has been acting like the stock market in the 1920s with “shoe shine boys” buying houses to sell or rent out. Also mindless corporations with eco-friendly gov’t encouragement building 4 story apartment buildings on cheap land near rail road tracks.
Land lord stock owners like of Fairfield stock. And the small Nouveau flippers and Nouveau little land lords, are in for the biggest losses that they can’t afford. As the seller’s market and landlord’s market, reverses into a buyer’s market and a renter’s market in a New York minute.
God knows what’s going to happen to Fanny and Freddy and other lender stocks and bonds if the Fed and Treasury stop or can’t keep buying with their Monopoly Money. This gets funnier every day.
Story property of Mr. Copper. 🙂
https://www.newsday.com/news/region-state/new-york-population-decline-census-1.40070613