Looking more deeply at the out-migration and its message, one big issue is clearly jobs.
In some parts of the country the decline in out-migration may be a welcome sign.
California's domestic out-migration, moreover, may have a simpler cause than dysfunctional government or high taxes.
In contrast high-tax New Jersey, New York, Illinois and California suffered the highest rates of out-migration.
While L.A. has experienced out-migration, the bordering Riverside-San Bernardino metro absorbed the nation's largest amount of domestic migrants.
By expanding immigration for low-skill workers, we restrain labor costs and reduce out-migration of manufacturing and other business.
California's housing boom coincided with a large increase in out-migration, as expensive housing drove residents to neighbouring states.
In that time it has attracted 244, 000 new residents from other parts of the U.S., while older cities experienced high rates of out-migration.
The data shows that there has been a net out-migration from California to other states since 1990, balanced for awhile by immigration from other countries.
What Dent got wrong is the relationship between the stock market--The Roaring 2000s foresaw "a Dow that would reach at least 21, 500 and possibly 35, 000 by the year 2008"--and out-migration.
In 2006, the city had a net loss of 153, 828 residents through domestic out-migration, compared to a decline of 141, 047 in 1993, with every borough except Brooklyn experiencing a higher number of out-migrants in 2006.
The most important factor slowing the out-migration of Californians in 2008 to 2011 was that home prices fell more in California than in the U.S. overall, making California more affordable relative to the rest of the country than during the housing bubble.
FORBES: Jobs Aren't Leaving California For Texas, But People Are
As I began to study U.S. internal migration patterns and regional economic development for Life 2.0, I learned that some carefully reasoned books had appeared during the last 15 years that had predicted just such an out-migration from cities to smaller cities and towns.
They want to scrape bits of tissue from planes, discover which birds are most often being struck, and thus work out which bird-migration routes to avoid.
Additionally, there are two mechanisms that could be used to ensure that low-skilled workers who would greatly benefit from migration are not priced out of the market: loans and allotted time.
The jury's still out on The Times and Sunday Times, which are offering low-priced packages to help a migration to online subscriptions.
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