The flight from urban areas is accelerating…

Flight From Urban Counties Accelerates
May 4 (King World News) – Gerald Celente:  More than two-thirds of U.S. counties with an urban center and a population of 250,000 or more lost population last year for the first time in 50 years, according to federal data analyzed by the bipartisan Economic Innovation Group.

Eighty percent of exurban counties—those lying outside suburbs but not far enough out to be “rural”—gained households.

“While there has been much discussion of a flight to the suburbs, the share of suburban counties growing actually declined,” the report said.

“Instead, exurban and rural counties saw a rising share of counties that gained population, with non-metropolitan rural counties seeing the highest population gain since 2008,” it noted.

Cheaper homes and more space prompted the migration, the study found.

“The tendency is for people to maybe be attracted to cities when they’re younger and then move out to the suburbs and exurban places to find bigger, cheaper housing when they choose to have families,” August Benzow, the study’s chief researcher, told Yahoo! News. 

In 2011, almost all of the counties gaining the most population were urban; last year, only three counties were in that group.

Also, the trend of migration from the eastern U.S. to the west continued.

Arizona’s Maricopa County, which includes Phoenix, was the fastest-growing area, bucking the trend away from urban areas.

Every county in Nevada added people and “remote rural counties in eastern Oregon and northern Idaho experienced robust population growth,” the study found.

TREND FORECAST:
The migration away from urban centers further confirms our trend forecast made two years ago in “Real Estate Dead? Time to Buy?” that the commercial real estate business in urban centers is undergoing a long-term decline.

Remote work as the new normal has spread skilled workers farther from the traditional business hotbeds, particularly on the coasts, and will create new centers of tech, financial, and innovative gravity around the country, reducing the coasts’ cultural influence and giving more to what have been second-tier metro areas in the heartland.

As more people work remotely, commercial real estate prices, especially office buildings, will fall further. In turn, businesses and transportation systems that relied on commuters will economically suffer and jobs in those sectors will disappear permanently…

Look At Who Is A Big Investor In This Soon-To-Be Self Funding Gold Exploration Company! To learn more click here or on the image below.

Therefore, the shift to working at home will redefine economic ecosystems, both in exurban areas and in urban centers. 

Exurban counties will add retail and service businesses, enriching the quality of life, adding jobs, and attracting more residents. Local planning commissions will need to be aware of the trend and take steps to ensure that exurbs do not become appendages of sprawling suburbs.

Urban centers face the opposite problem.

Commuters coming downtown to work buy lunch, gifts, clothes, gadgets, and other items; as workers stay home and more move out of commuting range, downtown stores and restaurants are losing their traditional customer base and gas stations along commuter routes will see business plummet.

At the same time, owners of commercial real estate face a reckoning.

Many will slash rents to lure a shrinking base of tenants, forcing them to demand property tax concessions from cities that will struggle even more to maintain police, fire, and public works infrastructures. 

As city services decline, so will the quality of life; more people will leave, creating a downward spiral.

Therefore, to keep residents, businesses, and buoy property tax revenues, cities in decline can become laboratories for innovation in everything from marketing their brand identities to negotiating with businesses over taxes to the ways in which essential services are provided.

ALSO RELEASED:  BANKING COLLAPSE? A Large Client Somewhere Has Blown Up CLICK HERE.
ALSO RELEASED:  Eurozone Inflation Hits A Jaw-Dropping 36.8% CLICK HERE.
ALSO RELEASED:  Russian Ruble & Gold, Trouble In China, Plus Even More Inflation And Silver’s Fall CLICK HERE.
ALSO RELEASED:  What We Are Seeing Is Unparalleled In History But Here Is The Good News CLICK HERE.
ALSO RELEASED:  Greyerz – Global Chaos Will Increase As The World Is Now Standing On The Edge Of A Precipice CLICK HERE.

MUST LISTEN:  Egon von Greyerz’s Partner Matthew Piepenburg gave an absolutely incredible interview about the coming chaos investors should expect to see in terms of inflation and major markets as well as gold, silver, and what people will need to do in order to protect themselves from the coming upheaval in global markets. I would encourage everyone around the world to listen to this remarkable interview by CLICKING HERE OR ON THE IMAGE BELOW.

To listen to Alasdair Macleod discuss Russia backing the ruble with gold and why the price of gold’s rise will be unstoppable CLICK HERE OR ON THE IMAGE BELOW.

© 2022 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.