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Suburbs: Where Americans are Migrating

first_img Share Save The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Headlines The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Demand Propels Home Prices Upward 2 days ago Previous: Financial Committee Passes Regulatory Amendment Bills Next: Week Ahead: Beige Book Highlights Economic Conditions Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Suburbs: Where Americans are Migrating Politics and affordability are causing Americans to relocate, according to data released Friday by Redfin.In the first half of 2017, 7.4 percent more people moved out of blue (Democratic) counties than to them, while red (Republican) counties experienced a 1 percent increase. Purple counties, which are classified as counties that share an equal balance of Democrats and Republicans, gained 2.3 percent more than they lost, and swing counties in swing states experienced 1.8 percent more Americans moving in than out.“As blue counties are becoming increasingly less affordable, we see a great number of residents moving to red counties where they can afford the lifestyle they want,” said Redfin Chief Economist Nela Richardson.According to the data, the shift is caused by two primary reasons: economic and political.America’s largest urban cities, which are predominantly in blue counties, are less affordable and housing in those counties are less available. The average blue county home would cost a buyer about $360,000, over 62 percent more than homes in red counties, which average $223,000.“Sure, blue-county incomes are usually higher, but their residents spend on average 32 percent of their household income on rent, nearly 5 percentage points higher than residents of red counties (purple counties fall in between at 30.9 percent), according to the Census,” Redfin reported.Politics can also be a key reason in where Americans decide to move. A separate Redfin survey reported that 41 percent of recent homebuyers hesitated to buy in areas where the majority had political views different from their own. The report also found that less than one in 10 respondents were enthusiastic about moving to a different political climate, and the remaining half was neutral.“At Redfin, we see this as a sign of hope for a less divided country, where people with differing views gain better understanding and tolerance of each other through sheer proximity.”For the full report, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Suburbs: Where Americans are Migrating Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Brianna Gilpin The Best Markets For Residential Property Investors 2 days ago HOUSING mortgage 2017-10-15 Brianna Gilpin October 15, 2017 1,415 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: HOUSING mortgage Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more