IT STARTED! The Largest Mass Migration In US HISTORY!
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 31 January 2024
⏱️ 33 minutes
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Summary
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast. Let's get right into this episode. |
| 0:05.1 | Welcome to the Ken Rackery Show. I'm your host, DeNeal, here with Ken. |
| 0:08.4 | So this is one of the craziest mass migrations that we have seen in the U.S. |
| 0:13.1 | and it's going to provide some of the best investment opportunities that we've seen in a long time. |
| 0:18.6 | So we're going to jump into that today, but first we wanted to |
| 0:21.4 | start with this video clip. I believe you've got the number. So you tell us how many people |
| 0:26.3 | left Illinois, New York and California in the last 10 years? I think you've got the absolute number, |
| 0:32.0 | right? What is it? Yeah, it's close to 5 million people. If you add New Jersey, which is the fourth big blue state, |
| 0:41.3 | it's about five million people. This is one of the biggest mass migrations in American history. |
| 0:46.9 | You know, if you look at, for example, the states that gained the most population over the last |
| 0:52.5 | 10 years, you're talking about, obviously, Florida, |
| 0:54.9 | Texas, South Carolina, North Carolina, Georgia, those states, the Southeast now has a larger GDP, |
| 1:02.6 | total combined economic output than the Northeast. That's the first time that's ever happened |
| 1:07.2 | in American history. So what's happening is not just a migration of people to these |
| 1:12.7 | low-tax states, but also a migration of business activity, capital investment. Look, the south is |
| 1:18.5 | where it's at right now. So we were looking at this clip and we were thinking that it's interesting |
| 1:24.8 | because right now you have the biggest migration we've seen from these big cities that have always had tons of people. |
| 1:32.5 | They've not really dipped that bad, like New York City, Seattle, all of those kind of towns. |
| 1:40.8 | Those were always sure investments. |
| 1:43.0 | And now... |
| 1:43.3 | Not anymore. |
| 1:44.4 | Right. |
... |
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