Population of America's 56 major cities continues to decline: small towns, people living in the outskirts
The population of America's 56 major cities continues to decline: small towns, people living in the outskirts; The revenue of cities is decreasing
Americans are disillusioned with the big cities that have become the hallmark of modernity. The era of urban supremacy in America is over. Middle-class Americans are beginning to feel that there is no longer a need to live in metro cities. So they started settling in the outskirts and small towns.
Have left the big cities forever. The situation is that for the first time since 1990, the population of 56 big cities in America with a population of more than one million has decreased. The real estate business in these cities has also gone into a loss. House prices are decreasing. The office spaces are vacant since Corona and are being used as shooting spaces. Many real estate projects in metro cities have been put on hold. Thousands of flats are lying vacant.
Indeed, the economics of the world is changing. Some corona changed, and some technology. Economic activities are no longer concentrated in cities. Companies are also doing business in small towns. Work from the home model has become a part of the working system. William Frey, a senior fellow of the research institute Brookings Institution, explains – IT, finance, real estate and entertainment sector employees are leaving the city in the largest number.
Most of the people leaving the city in lakhs are professionals. His salary is above average. These people were big taxpayers. Due to their departure, there has been a huge reduction in the revenue of the cities. The property tax received by big cities like New York-Washington has also decreased. There has also been a significant reduction in office and hotel tax. On the other hand, the towns are becoming richer in terms of revenue. Now, among the employed people living in metro cities, the maximum number of people are associated with the service, health, hospitality and food sectors.
The demographics of both big cities and towns are also changing as people leave the cities. Los Angeles's Long Beach, Chicago's Naperville and Elgin, and Philadelphia's Camden and Wilmington have increased the number of whites, while blacks have become the majority in some counties. Economist Nicholas Bloom says – this will reduce the burden on American cities. Inflation will decrease. Life will be easier in metro cities for low-income people and students.
Economist Nicholas Bloom of Stanford University says – not only the cities of America are emptying, but the condition of Northern Europe is also the same. In many countries of Eastern Europe like Sweden, the UK, Denmark, Finland, and Norway, professionals are leaving big cities. From 1980 to 2019, the desire to live in the city center was highest. Professionals and managers are permanently working in hybrid mode. Some days from the office and some days from home. In such a situation, they are settling away from the cities.