Florida's population dropping with its home prices
Florida’s population, which has been rising year after year since the end of World War II, fell for the first time this year, according to the demographers at the University of Florida.
The population dropped by 58,294 from April 1, 2008 to April 1, 2009, according to UF’s Bureau of Economic and Business Research, which measures population using household electricity connections and disconnections and housing permit data. That might not seem like much for a state with a population of about 18 million. But it’s the first drop since 1946 and it follows a population boom. By comparison, the state’s population increased by 430,905 from 2005 to 2006 (By 2007-2008, the population rose by just 126,852).
Florida’s speculative building boom was driven by the idea the retiring baby boomers and new immigrants would create steady demand for the condos towers rising from Miami to Jacksonville. But many of the immigrants who helped build homes during the boom have likely left as the state’s economic promise diminished, said David Denslow Jr., a professor and Research Economist for the Bureau of Economic and Business Research.