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| 65+ Heatmap from geometrx.com |
Same reason the birds do it, flying and making their nests/winter here/summer there/maybe year-round . . . "empty nests"? Baby Boomers? Maybe caused by climate change? Our attractive weather with over 100 days of temperatures over 100 degrees?
According to an article yesterday by Kurt Badenhausen, who covers sports business with a rare dip in education and local economies [good combination of interests, eh?]
"Baby boomers retiring to Arizona is the main driver for Arizona’s employment growth,” says Kyle Hillman, an economist at Moody’s focused on Arizona. This migration fuels jobs in healthcare and consumer services. Net migration into the state is projected to total 679,000 over the next five years. . .
Companies and workers are also finding their way to Arizona as a more affordable option to West Coast locales like the Bay Area and Seattle. The state offers a diversified economy with a skilled workforce.
Did somebody say follow the money? Financial service firms have a heavy presence in Arizona with Wells Fargo WFC +1.85%, JPMorgan Chase JPM +1.59% and Bank of America BAC +6.25% among the 10 largest private employers in the state. . . "
RealtyTrac reported last year reported that many U.S. housing markets are now seeing a shift in both baby boomer and millennial population migration patterns.
According to the data analyzed, millennials are now going to urban city centers across the U.S. for higher income job opportunities, while retiring boomers are now opting for less dense, lower-priced housing markets to retire.
Top Markets for Boomers Include Wilmington, NC, Punta Gorda, FL and Phoenix, AZ;
Millennials Migrating to Washington DC, New Orleans, LA and San Francisco, CA
Link to data analysis >> http://www.worldpropertyjournal.com/north-america-residential-news/population-changes-in-us-realtytrac-report-millennial-migration-report-boomer-housing-report-median-household-incomes-lower-priced-housing-markets-8531.php
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