The Great Migration: How People and Businesses Are Leaving High-Cost Cities

🚚The migration of people and businesses from high-cost cities is one of the largest in American history.

💼Businesses are not only moving to low-tax states, but also bringing their capital investments with them.

🌇The Southeast now has a larger GDP than the Northeast, marking a shift in economic power.

🏡Affordability is the main driving factor, with people seeking more affordable housing options in the Midwest and South.

📈Secondary and tertiary markets are experiencing rapid growth as young people and businesses seek affordable opportunities.

Why are people and businesses leaving high-cost cities?

—The main reason is affordability. High housing costs, taxes, and business-unfriendly policies are pushing people and businesses to seek more affordable options.

What impact does this migration have on the housing market?

—The migration is putting pressure on housing prices, making it more difficult for the average person to afford a home, particularly in high-cost cities.

Which regions are seeing the most growth?

—The Midwest and the South are experiencing significant growth as people and businesses are moving there seeking affordability and opportunities.

Are there any implications for small businesses?

—Small businesses are also moving to more affordable regions, allowing them to reduce costs and create a more business-friendly environment.

How does this migration affect economic power?

—The shift from the Northeast to the Southeast is changing the economic landscape, with the Southeast now having a larger GDP than the Northeast for the first time in history.

00:02This video explores the mass migration of people and businesses from high-cost cities to more affordable regions.

03:39The migration is driven by affordability, with high housing costs and taxes as major factors.

05:20The Southeast now has a larger GDP than the Northeast, highlighting the economic shift caused by the migration.

07:14The Midwest and the South are experiencing rapid growth as people and businesses seek affordability and opportunities.

12:59The migration is putting pressure on housing prices, making it more difficult for the average person to afford a home.