Go south old man, go south

Paul Krugman's column in the NYT this morning is definitely food for thought.   He opines the reason the South has experienced much higher population growth than more northern cities and regions is the high cost of northern and western housing, not the pro business polices pursued by the Rick Perry's of the South.  He may be correct up to a point.  What I think he fails to understand is the continuing demographic shift the baby boom generation has initiated.  Many if not most of the increase in population in many southern states is driven by older people who are shedding their high priced, highly taxed houses in favor of cheaper living and better climate in the south.  So what if they work the last few years before retirement at lower paying jobs.  It is more than made up for by the lower cost of living.  Besides, many 55 plus boomers are already retired from well paying jobs with great retirement benefits.  That is a boost for southern economies.  Until cheap housing stocks in the south start getting scarce this cycle will continue with high productivity in northern areas and a graying retirement population driving a low wage, low productivity economy in the south.  If that is the economic miracle Perry hopes will drive his presidential campaign, I have a bridge for sale in Brooklyn.