Housing-News-Report-March-2016

H OUSING N EWS R EPORT Named the Nation’s Best Newsletter in 2015 by the National Association of Real Estate Editors By Octavio Nuiry, Managing Editor The Next Great Migration? ‘Housing Refugees’ On The Move

For more than a century, American housing migration patterns followed a familiar trajectory: U.S. homebuyers headed predominantly west to cities like Los Angeles, San Francisco, San Diego and Seattle, where their families and friends had settled or jobs awaited them. Once there, for a generation or two, they stayed put, laying roots in the communities where they settled. Eventually, their children and grandchildren moved to the suburbs. And the cycle repeated itself generation after generation. One of the greatest examples of this westward migration occurred during the Great Depression, when a devastating drought known as the Dust Bowl forced hundreds of thousands “Okies” to flee Oklahoma, Texas, Kansas, Georgia and Tennessee and

migrate to California. In 1940, Woody Guthrie captured the essence of that great American 20th century western diaspora in his classic folk song “Do Re

March 2016 Volume 10 • Issue 3

Mi.” In the song, Guthrie sings: “California is a garden of Eden A paradise to live in or see; But believe it or not You won’t find it so hot If you ain’t got the do re mi…”

CONTENTS

Guthrie was warning Okies about how expensive it was to live in Depression- era California without the “do re mi” (money). Guthrie, who lived in Los Angeles, had witnessed the economic hardship that many migrants were experiencing when they arrived in California.

10 Big Data Sandbox

11 My Take

By Allan Weiss, Weiss Analytics

12 News Briefs

This 20th century movement west,

Continued Next Page

13 Legal Briefs

14 Financial Briefs

15 Local Spotlight:

Portland, Oregon

23 Book Review: “The Age of Stagnation,” By Satyajit Das

SOURCE: United States Census Bureau

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