Wednesday, July 22, 2015
BloombergBusiness ranks Honolulu #4 among cities where local residents are fleeing
New York City, Los Angeles, Honolulu: They're all places you would think would be popular destinations for Americans. So it might come as a surprise that these are among the cities U.S. residents are fleeing in droves. –BloombergBusiness, 7/22/2015
by Larry Geller
Honolulu is number four on a list of 20 metropolitan areas compiled from analysis of US Census data “that lost the greatest share of local people to other parts of the country between July 2013 and July 2014.” The survey looked at the top 100 metropolitan areas.
So what's going on here? Michael Stoll, a professor of public policy and urban planning at the University of California Los Angeles, has an idea. Soaring home prices are pushing local residents out and scaring away potential new ones from other parts of the country, he said.
[BloombergBusiness, These Are the Top 20 Cities Americans Are Ditching, 7/22/2015]
That’s the bad news. The good news is that government here could save money by letting go all the people in DBEDT who are working to promote high tech here to boost the economy. Without employees, companies are just not going to relocate here or choose Honolulu or Hawaii as a good place to do business.
Honolulu stands out in the article’s discussion because it is not a manufacturing hub experiencing depopulation. Its climate should encourage people to relocate here. Of course, those who can afford a Kakaako Condo will come even as locals flee.
What’s chasing people away here is the high cost of living including the dearth of affordable housing, not loss of manufacturing jobs which we never had.