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The Incredible Shrinking Cities...

November 6th, 2010



While Houston's economy remains stronger than most, many US metros have lost substantial amounts of residents in the past few years.

These losses have occurred for many reasons, most related to a softened economy and a change in priorities. However, others suffered great loss due to one large event like New Orleans did with Hurricane Katrina.

While New Orleans tops the list with 26.6% population decrease in the last decade, Cleveland has lost 45% of the population it had in the 1950's due to a loss in manufacturing employment.  A shocking 1 in every 5 homes was vacant in Cleveland in 2008 due to the foreclosure crisis.

Although highly touted as a top city for quality of life and livability, Rochester, NY, once the flour producing capital of the US, has been losing jobs and population since the 1950's.

Young people are moving out of these metros in search of jobs in other cities or  a better lifestyle in the surrounding suburbs. Many of the cities, like Birmingham, Alabama continue to be great places to live and work. However, the last decade has definitely taken its toll on certain industries causing people to look elsewhere for residency.

The good news is that most of these cities have plans in motion to diversify employment and industries supported and most are expected to increase in the next 10 years. Cities like Pittsburg are already starting to see growth in some neighborhoods.

For the full list, click here.


Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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