Sunday, May 22, 2016

SUFFOCATION BY GOVERNMENT REGULATION: Detroit Drops Out of the Top 20 Biggest U.S. Cities

For the first time since the 1850s, Detroit drops out of the top 20 biggest U.S. cities, replaced by Denver.

Census Bureau figures to be released Thursday show the top 50 cities accounted for 20% of the nation’s population growth for the 12 months ended July 1, 2015, reports WSJ.

That growth is slowing as a bulge of late-20s Americans reaches prime homebuying age and high urban real-estate costs are making suburbs and exurbs more attractive.

Once-hot cities including New York, Boston, San Jose, Calif., and Austin, Texas, also grew more slowly last year than they did the prior one, driven in part by rising housing costs. “A lot of people are getting priced out, especially in the major cities,” said Adam Kamins, senior economist at Moody’s Analytics.

Chicago’s population shrank last year for the first time since 2009, edging down 0.1% to 2.7 million. Behind the contraction is a slowing in the arrival of Latino immigrants, who had been making up for a decade-long migration of black Americans to the southern U.S. and whites to the suburbs, said Rob Paral, a Chicago-based demographer. Crime is also driving out some residents, particularly on the city’s South Side.

On the whole, the nation’s big cities are still growing more rapidly than a decade ago, when the top 50 cities accounted for 3% of the nation’s population growth in 2005.

(via WSJ)

1 comment:

  1. Nothing fundamental has changed in Detroit. They've simply gotten better at managing the decline (they are really getting good at demolishing buildings). It's still crony (which the statists and corporatists love) and it's still leftist (which the remaining population still demands).