It’s not just about the coasts and the bubbles anymore: Six fast-growing states in the South now add more to the national GDP than the Northeast, the perennial powerhouse, Bloomberg reports.
Those six states — Florida, Texas, Georgia, the Carolinas and Tennessee — are in the middle of a “$100 billion wealth migration” as the U.S. economic center of gravity tilts south, Bloomberg notes.
[The prolonged shutdown of office space and of commercial activity in the Northeast in the pandemic seems to have been the catalyst, but people would not have made permanent migration on that basis alone. The pandemic likely served more as a tipping point for these decisions, as it likely did for Californians as well, who have been leaving in droves on a net-population basis. It’s not just the pandemic, but the policies. — Ed]
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