So, turns out it’s not just those pesky millennials that abandoned CT in droves. The state also lost a healthy serving of baby boomers AND the silent generation, too! Meaning: the state has a severe exodus problem in all its demographics.
And that exodus problem gets worse every year.
The Hartford Courant reports that in 2014, over 39,000 adults between the ages of 20-to-34 left the state. That’s up a whopping 20 percent from 2007.
Overall, Connecticut lost 5.8 percent of its millennial population. To put that in perspective, Connecticut had the 12th highest amount of millennials moving out. In the country. Guaranteed that number will go up next year.
And this article HERE proves why that should be a major concern for our politicians.
On top of that, 3,984 baby boomers also fled the state, which is about 2.2 percent. That’s makes Connecticut the 5th state in the nation with the highest amount of baby boomers moving out.
On a side note: the older generation left both demographics in the dust. The number of residents aged 65-and-older moving out of state rose 95 percent. That number rose from 4,717 in 2009 to 9,188 in 2014.
Also, the number of homes for sale in greater Hartford went up by 27.3 percent from last year. But, on the bleaker side, prices went down about 2.8 percent.
So, while people may have been waiting to see if the housing market would make a full recovery from the 2006 crash, it seems their patience has run out. They’d rather take the financial hit on the housing side over what will inevitably come from our incompetent lawmakers.
So, this problem will only get worse.
Considering the ongoing budget crisis, onslaught of horrific taxes, and a total lack of anything fun to do… yeah. It’s easy to say more and more people are getting ready to pack their suitcases and leave.
So, don’t be all that surprised when Connecticut’s exodus rankings go up next year.
Look, I can write a book on why so many people are fleeing the state. I think anyone who picks up a newspaper can do it, too.
The problem extends beyond snowbirds now. The winters are no longer driving residents out in droves.
The wait-and-see-if-the-state-gets-better trial period ended last election. Instead of things getting better, they got worse. So, more and more people decided to pull the trigger and want to get the heck outta dodge before they hemorrhage even more money.
That’s why our neighboring states ADDED people this year, with Massachusetts and New York (who tend to rival us in taxes) collecting the most of CT’s ex-pats.
Their budgets technically have a cleaner bill of health than ours. Plus, they offer more of everything: from entertainment, better roads, and the feeling of better representation in local government.
So, at this rate, Connecticut’s population will evaporate. Because it’s not just people moving out that’s created this exodus problem, Connecticut has one of the lowest birth rates in the nation.
Which means: less people paying into the pension funds, social security coffers, and income tax receipts. That’s just to name a few funds that’ll dry up without more people paying into them.
So, our politicians should be marketing HARD to encourage more young blood call this state home or this budget crisis will continue its free fall. When more people move out than move in, things will get a heck of a lot more painful for all of us.
Hopefully, that won’t happen. Our politicians should be working hard to figure out some sort of solution. But, I can’t exactly say I’m optimistic about it. Can you?