NEW YORK, Sept. 28, 2007 (PRIME NEWSWIRE) -- This week's Wall Street Journal Weekend Edition centerpiece focuses on Florida -- a state that has had one of the fastest growing populations -- but has recently seen a slowing in migration due to rising costs.
"After years of nonstop growth, many Florida cities have been caught off guard by slowing growth," writes Journal reporter Conor Dougherty in this week's Weekend Edition. "A decline in migration trends could spell broader trouble for Florida's economy. In addition to tourism, the influx of retirement savings and social security checks are a big driver of the state's economy. This in turn creates a huge stock of service-oriented jobs -- one reason why some of Florida's most prominent exports include homebuilding companies and restaurants like Outback Steakhouse and the Olive Garden."
Mr. Dougherty adds, "Florida has been through this before. In the early 1990s, economic weakness and failures in the savings and loan industry pushed the state's unemployment rate to among the highest in the nation. Immigration slowed and some metropolitan areas had a net outflow of residents. The state recovered, and the next boom came along. Many economists believe that this lull, too, will be temporary. But there are some signs of trouble in the economy."
Though real estate prices are now falling, Florida's median home price for an existing single family home remains 27% more than three years ago. Price appreciation has pushed up property taxes, adding to already high property insurance rates due to a spate of hurricanes in the region. In the past year, the state has been scrambling to reduce property taxes and the cost of homeowners insurance as well as instate legislation to freeze rates in an effort to reverse the decline.
Additional stories appearing in this week's Weekend Edition of The Wall Street Journal include the following:
Money & Investing:
-- Jersey & Hedge Funds: Just as regulators and politicians globally
push to regulate hedge funds more closely, Jersey, a small island
in the English Channel and a haven for funds with its light
oversight, is making its regulations even lighter.
-- Investments in Emerging Market Stocks: The Journal explains how to
tell how much of your portfolio is invested in emerging markets
stocks.
Weekend Journal:
-- Green Kids: The booming environmental movement is fueling a role
reversal: In some households, kids are scolding their parents for
bad behavior, and parents are sheepishly making excuses for using
plastic cups, leaving the lights on and not serving grass-fed beef
at the dinner table. It's happening as schools, publishers,
entertainment companies and nonprofit groups send kids more
explicit messages about becoming eco-warriors.
About The Wall Street Journal
The Wall Street Journal, the flagship publication of Dow Jones & Company (NYSE:DJ) (www.dowjones.com), is the world's leading business publication. Founded in 1889, The Wall Street Journal has a print and online circulation of nearly 2.1 million, reaching the nation's top business and political leaders, as well as investors across the country. Holding 33 Pulitzer Prizes for outstanding journalism, The Wall Street Journal provides readers with trusted information and knowledge to make better decisions. The Wall Street Journal print franchise has more than 750 journalists world-wide, part of the Dow Jones network of nearly 1,800 business and financial news staff. Other publications that are part of The Wall Street Journal franchise, with total circulation of 2.6 million, include The Wall Street Journal Asia, The Wall Street Journal Europe and The Wall Street Journal Online at WSJ.com, the largest paid subscription news site on the Web. In 2007, the Journal was ranked No. 1 in BtoB's Media Power 50 for the eighth consecutive year. The Wall Street Journal Radio Network services news and information to more than 280 radio stations in the U.S.
Editor's Note: WSJ reporters are available to discuss these topics.
The WSJ Weekend Edition logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3504