Hat tip to W.C. Varones for sending in this article about Gen-Xers leaving San Diego because housing is too expensive – and taking their kids with them:
From 2008 to 2013, a period that frames the Great Recession and its slow-growth economic aftermath, the overall population of San Diego County grew by 3.9 percent to 3.17 million people, according to Cunningham’s analysis of census data compiled by the California Department of Finance.
However, the population actually fell by 4.6 percent over the five years in Generation X, the demographic cohort from ages 35 to 49. And Millennials, the cohort from birth to 19 (and the largest group), fell by 1.9 percent, indicating enough Gen X families left town to offset births and immigration of young people.
W.C. asked me what my experience has been with Gen X families leaving town. I’m not your typical realtor, but I haven’t had many Gen-X families move out of the county lately – just 2 out of 66.
Here are the seller categories of my 66 non-REO listings since 2010:
Move Up or Down (within SD County): 21
Estate Sales: 11
Job Relo Out of SD: 6*
Retired, left SD: 2
* Of the six who left town, two were Gen-Xers
I think analysts and reporters jump to conclusions, and for the data to move a couple of percentage points in either direction shouldn’t be a cause for alarm. They included this at the end:
Meanwhile, Baby Boomers and retirees arrived in relative droves, with both groups rising in population by more than 15 percent.
Real estate is for affluent people now, regardless of age.