With real estate and the job market in tatters, Flordia is experiencing a record out-flow of its residents:
Sun Sentinel: Later this month, Rick and Connie Desrochers will join a migration out of Florida that began before the housing market collapsed and the recession kicked in. In 2009, more than 500,000 people like them will leave. And for the first time since World War II, Florida’s population will actually shrink — by about 60,000 residents, state demographers estimate.
Growth has slowed in many places across the country as the recession stifles Americans’ ability to sell their homes and move. But in many ways, the slowdown is worse here because Florida’s economy has long been built on rapid growth.
Our guess is that Florida will be back. After all, booms, busts, real estate crisis, and tears are nothing new for the Sunshine state, and yet the appeal of warm beaches and bright sun persists.