“Always do right. This will gratify some people and astonish the rest.”
The economy and job market are still keeping millennials from moving to new cities and those who are moving are not coming to Phoenix, according to migration data from the U.S. Census Bureau andBrookings Institution. Young adults are landing in Washington D.C., Denver, the Pacific Northwest and Texas.
On the flip side, older Americans are starting to move again as they recover from the recession. Phoenix ranks as the top destination for those 55 and older moving to new areas since 2009.
Older Americans are also landing in Riverside, Calif., Florida, Atlanta, Denver and Texas, according to net migration data.
Both of those trends fits into the narrative that Phoenix is a retirement destination with plenty Village Inns and golf carts but not a place where young professionals and creative types head for work or to start businesses.
The Census and Brookings data shows those between the ages of 25 and 34 are going to markets such as Minneapolis, Charlotte, New Orleans, Oklahoma City more than Phoenix.
They are also landing in Texas which has shown more robust job growth in recent years and has the cachet of trendy Austin.
Brookings Senior Fellow William Frey says young adults are still feeling economic hangovers from the Great Recession. That is keeping them at home and not on the move.
“In the past year, young adults aged 25-34 moved at historically low levels, down to 20.2 percent,” Frey said. “This is primarily due to a continued dip in local, within county migration, the kind most heavily impacted by housing needs and family formation. Behind the trend is the recession’s resultant credit crunch and continued underemployment effectively reducing home ownership possibilities.”
Frey said older Americans are not stuck in place as much and their migration levels have been increasing since 2009.
Real estate developers and home builders will welcome population growth from older demographics. Those moving in their late 50s or senior years are likely to me more affluent.
Population growth in Arizona was almost flat during the recession. State economists at the Arizona Department of Administration expect population growth of 1.13 percent this year and 1.33 percent in 2014. That is better than during the recession but well off the 2.5 percent to 3.5 percent population gains before the downturn.
But Phoenix not landing among the top 20 net migration spots for young adults will be a concern for economic developers. They have been working to attract high-wage and high-tech jobs as well as young professionals so the state is not dependent on home building, real estate and service jobs.
Right now, those younger workers are not landing in Phoenix.
Top markets seniors are moving to: 1. Phoenix 2. Riverside, Calif. 3. Tampa-St. Petersburg 4. Atlanta 5. Denver 6. Austin 7. Orlando 8. Jacksonville, Fla. 9. Charlotte 10. San Antonio 11. Portland, Org. 12. Las Vegas 13. Sacramento 14. Dallas-Fort Worth 15. Miami 16. Raleigh, N.C. 17. Indianapolis 18. Houston 19. Nashville 20. New Orleans
Top markets Millennials are moving to: 1. Washington D.C. 2. Denver 3. Portland, Ore. 4. Houston 5. Austin 6. San Francisco 7. Seattle 8. Riverside, Calif. 9. Dallas 10. Charlotte 11. Minneapolis-St. Paul 12. Oklahoma City 13. San Antonio 14. Kansas City 15. New Orleans 16. Richmond, Va. 17. Columbus, Ohio 18. Atlanta 19. Raleigh, N.C. 20. Pittsburgh Source: U.S. Census Bureau, Brookings Institution
Mike Sunnucks writes about politics, law, airlines, sports business and the economy.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
we are at on the a rise of the cycle in Commercial Real Estate. so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
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