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U.S. climate change is slowing the population moves to the Sun Belt states.

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Since the widespread adoption of air conditioning in the 1970s, Americans have moved in droves from cold northern climes to sunny southern ones. That has led to booming populations in states such as Florida, Texas and Arizona, and a shift in economic activity from north to south.

But Sun Belt migration is now skidding to a halt, according to a new working paper from the Federal Reserve Bank of San Francisco. As climate change is making warm places hotter and cold places more livable, more Americas are staying put in the North, while others are leaving the South. In coming decades, net migration might flow in the other direction.

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