The Back Story: This economic shock of the Great Disruption will change us. Some early evidence is already in, thanks to a new report from the Brookings Institution based on the analysis of Census and other data. Wanderlust Americans are moving less. Within-country moves have slowed considerably over the past two years. It's especially evident in former hotspots such as Las Vegas, inland California and Florida. (You can download the full report here).

About 4.7 million people moved across state lines in 2007-2008, down from 8.4 million at the beginning of the decade. Fortunately for the Seattle area, its economy was not based heavily on large increases in population. Brookings data show we remain among the elite metros with what really counts in competitiveness: A heavy concentration of college graduates.

We're becoming a more diverse nation, although some long-term trends continue. About 80 percent of the U.S. foreign-born population comes from Latin America, compared with 20 percent in 1970. Racial and ethnic minorities comprise 44 percent of the population under 15. And these migrants are moving into the suburbs, as opposed to the old pattern of starting out in center cities. How this composition changes with the recession remains to be seen.

Today's Econ Haiku:

On a scary ride
The roller-coaster drop stops.
Housing's still screaming