Connect with us

San Francisco, CA

'Great migration' continues as more Americans flee New York, San Francisco

Published

on

'Great migration' continues as more Americans flee New York, San Francisco


The exodus from major cities in states run by Democrats continues.

A growing number of Americans are migrating from predominantly blue cities like San Francisco and New York, according to a Bank of America analyst note that is based on aggregated and anonymous internal customer data.

Advertisement

In the three-month period from April to June, there were “large population declines” in many Northeastern and Western cities, continuing a long-term trend that began during the pandemic. 

New York and Boston saw the largest net population outflows in the Northeast, while San Francisco, Los Angeles, Seattle and Portland, Oregon, saw the largest drops in the West. 

WALL STREET’S FEAR GAUGE SPIKES TO HIGHEST LEVEL SINCE 2020 AS GLOBAL TURMOIL DEEPENS

New York and California have some of the highest tax burdens in the country. San Francisco has also been plagued by a spike in property-related crime, according to the California Department of Justice’s Criminal Justice Statistics Center.

A truck is parked in front of a U-Haul facility on Aug. 31, 2020, in New York City. (John Lamparski/Getty Images / Getty Images)

Advertisement

Among the top 23 major metropolitan areas in the country, Columbus, Ohio, saw the biggest influx of people during the second quarter of 2024. That was followed by Austin, Texas; Las Vegas; San Antonio, Texas; and Jacksonville, Florida.

Texas, Florida and Nevada do not have a state income tax.

RECESSION FEARS, MARKET SELL-OFF RAISE ODDS OF A BIGGER FED RATE CUT

Still, the findings from Bank of America also show that fewer households are moving between cities, likely due to the increased “hidden” costs of homeownership. Homeowners’ insurance and property taxes are among the “hidden” costs that have spiked in recent years, particularly in the Sun Belt. 

Gen Z and lower-income households were more likely to relocate in the second quarter, likely due to financial necessity rather than choice, the report said. 

Advertisement
Austin, Texas downtown

A view of downtown Austin, Texas. (iStock / iStock)

“In our view, the current level of inter-city moves is being held back by the ‘hidden’ costs of homeownership, alongside more overt costs such as higher mortgage rates,” the report said. “At the same time, Gen Z and those on lower incomes, particularly renters, are continuing to move.”

Affordability and cost-of-living are most likely the top reasons behind younger Americans and lower-income households moving. 

CLICK HERE TO READ MORE ON FOX BUSINESS

“It’s also important to note that it’s easier for younger and lower-income households to change addresses because a greater proportion of these consumers are renters rather than homeowners,” the report said. The homeownership rate is just 35% for Americans ages 25 to 30, compared to a 66% rate across all ages.



Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

San Francisco, CA

Daniel Lurie wants to pause city hiring — with some caveats

Published

on

Daniel Lurie wants to pause city hiring — with some caveats


Newly inaugurated Mayor Daniel Lurie said Thursday he wants to freeze city hiring and new programs — though there are major exemptions and scant details on exactly what departments will be affected. 

In light of a historic budget deficit reaching nearly $900 million, Lurie said the city would pause hiring for new positions, except those that are “historically challenging to staff and that directly support public safety and health.”

Additionally, Lurie told department heads to “realign programming and spending” with core priorities, according to a press release, including freezing new contracts and programs. 

The mayor’s office did not respond to a list of questions from The Standard about which departments would be exempted from the hiring freeze or the criteria for halting programs and contracts. 

Advertisement



Source link

Continue Reading

San Francisco, CA

At SF Mayor Lurie’s Chinatown Party, Dancing, Fireworks and a Promise of Unity | KQED

Published

on

At SF Mayor Lurie’s Chinatown Party, Dancing, Fireworks and a Promise of Unity | KQED


“As we speak, the San Francisco Police Department and sheriff’s department are rapidly shifting resources and personnel to bring drug dealers to justice and clean up our streets,” Lurie said in his inaugural address Wednesday.

Chinese Americans have long played a critical role in San Francisco politics and the city’s identity as a bastion of progress and compassion, advocating for integrated schools, affordable housing and public safety, especially after the pandemic when anti-Asian hate crimes spiked.

A banner hangs over Grant Avenue welcoming Mayor Lurie at the Chinatown Night Market on Inauguration Day in San Francisco on Jan. 8, 2025. (David M. Barreda/KQED)

It’s also a fast-growing electorate. The Asian population had the highest growth rate of any ethnicity in San Francisco from 2010 to 2020, according to U.S. Census data. Chinese residents account for nearly 22% of the city’s population.

Lurie has already hired several staffers to help him bridge cultural divides, including Han Zhao, a political strategist for Lurie’s campaign who will be the director of public affairs; Paul Yep, a former San Francisco police commander who will be the director of public safety; and Kit Lam, who was the Asian American and Pacific Islander political director for Lurie’s campaign and who was previously an organizer of the school board recall in 2022. He will serve as a press liaison between the mayor’s office and AAPI communities.

Advertisement

Lurie, founder of the nonprofit Tipping Point and heir to the Levis Strauss clothing fortune, campaigned as a political outsider fed up with dysfunction and corruption in City Hall.

He has never held elected office before, but convinced voters that his background in nonprofit work would position him well to bring new ideas to City Hall. Campaign contributions soared past $62 million, topped by Lurie who raised roughly $16 million — about half of which was self-funded — making his run the most expensive in the city’s history.

Mayor Daniel Lurie addresses supporters inside Far East Cafe, a Cantonese restaurant, during a visit to Chinatown’s Night Market on his Inauguration Day in San Francisco on Jan. 8, 2025. (Gina Castro/KQED)

At Wednesday’s night market, hundreds of residents packed the streets of Chinatown to eat and dance to electronic music by San Francisco-born electronic music producer, Zhu.

“I just got off of work over at Equinox and came because Zhu was performing, but I also came here to support our new Mayor Daniel Lurie,” said Mason Maes, who lives in Noe Valley. “It’s great to see all these residents get together.”

Elizabeth Wang, a Marina resident, came because she was hoping to learn more about Lurie and to have fun with friends.

“I’m just here for the vibes. I can’t say I know much about [Lurie] since he’s new to government,” Wang said. “But having a party here in Chinatown means a lot.”

Advertisement
Crowds fill Grant Avenue for the Chinatown Night Market on Inauguration Day in San Francisco on Jan. 8, 2025. (David M. Barreda/KQED)

Others at the event, who didn’t vote for Lurie and had skepticism about his wealthy background, said they’re waiting to see what type of change his administration will bring.

“We weren’t Daniel Lurie fans, but we love this city and hope it gets better,” said Tiny Harris, who was chasing her toddler around the market.

She said she voted for Aaron Peskin partly because he opposed sweeps of homeless encampments and supported housing and behavioral health solutions over law enforcement to address street homelessness.

“But out of all the mayoral candidates, we could have done worse, so I’m thankful for that,” Harris said.





Source link

Advertisement
Continue Reading

San Francisco, CA

New San Francisco Mayor Daniel Lurie celebrates inauguration night in Chinatown with banquet and night market

Published

on

New San Francisco Mayor Daniel Lurie celebrates inauguration night in Chinatown with banquet and night market


Large turnout for new San Francisco Mayor Daniel Lurie’s inauguration night celebrations in Chinatown.
He thanks the Asian and AAPI communities for their support. San Franciscans, even one that said she didn’t vote for him, say they are excited and optimistic that he may bring change.



Source link

Continue Reading
Advertisement

Trending