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Old Yesterday, 11:13 AM
 
2,378 posts, read 933,543 times
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Quote:
Originally Posted by Mutiny77 View Post
Philadelphia also but I'm not sure where it ranks with respect to tech.



That doesn't explain the housing crisis that exists in southern California also. A lack of affordable housing is more of a nationwide issue in several of the nation's largest metros and it has to do with a chronic lack of housing supply. Dallas is avoiding this issue with a ton of new housing being added to the market.
California added the least amount of housing per year per its inhabitants but in reality Texas as a whole isn't very far behind them in that category:

https://www.scpr.org/news/2018/05/03...ts-are-so-hig/

I haven't checked much into the housing market in DFW, I don't doubt that especially the northern suburbs are adding homes - but - I don't think its the only contributing factor. Note that DFW also cut out regulations on building materials that can be used to build homes in the more afluent suburbs, and while that may make homes more affordable, it takes a cut into the prestige and also brings question into the durability of certain newer developments. Also DFW's suburbs are also not 'cheap' anymore. They're not super expensive but its beginning to catch up with the rest of the country despite the inventory.

Here in Austin, there is definitely a housing shortage and while not California level, its pretty expensive to live in.

The reason tech industries - despite their much higher wages - absolutely massacre local economies with high CoL is because they attract more affluent employees with salaries capable of supporting more expensive homes. In California specifically there is practically an endless supply of skilled professionals willing to relocate there for work. In that aspect alone, housing cannot keep up with demands, then you have to factor in their much higher salaries in relation to the rest of the country - so not only is it a demand issue but you also are competing with salaries on a much higher scale which pushes the cost of housing up to the point where they can be supplied.

Look at what Amazon specifically did to Seattle and why a place that was once not too much more expensive than Chicago, is now nearly rivaling San Francisco...

The only ones who benefit from tech jobs are tech employees and usually not even them as they typically only retain a middle income standard of living while middle and lower income are altogether forced out the market.

The issues in Los Angeles may be more of a supply issue...but while its not San Francisco, Los Angeles also has a fairly strong tech market.

Last edited by Need4Camaro; Yesterday at 11:23 AM..
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Old Yesterday, 12:27 PM
bu2
 
10,252 posts, read 6,586,063 times
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Quote:
Originally Posted by Need4Camaro View Post
California added the least amount of housing per year per its inhabitants but in reality Texas as a whole isn't very far behind them in that category:

https://www.scpr.org/news/2018/05/03...ts-are-so-hig/

I haven't checked much into the housing market in DFW, I don't doubt that especially the northern suburbs are adding homes - but - I don't think its the only contributing factor. Note that DFW also cut out regulations on building materials that can be used to build homes in the more afluent suburbs, and while that may make homes more affordable, it takes a cut into the prestige and also brings question into the durability of certain newer developments. Also DFW's suburbs are also not 'cheap' anymore. They're not super expensive but its beginning to catch up with the rest of the country despite the inventory.

Here in Austin, there is definitely a housing shortage and while not California level, its pretty expensive to live in.

The reason tech industries - despite their much higher wages - absolutely massacre local economies with high CoL is because they attract more affluent employees with salaries capable of supporting more expensive homes. In California specifically there is practically an endless supply of skilled professionals willing to relocate there for work. In that aspect alone, housing cannot keep up with demands, then you have to factor in their much higher salaries in relation to the rest of the country - so not only is it a demand issue but you also are competing with salaries on a much higher scale which pushes the cost of housing up to the point where they can be supplied.

Look at what Amazon specifically did to Seattle and why a place that was once not too much more expensive than Chicago, is now nearly rivaling San Francisco...

The only ones who benefit from tech jobs are tech employees and usually not even them as they typically only retain a middle income standard of living while middle and lower income are altogether forced out the market.

The issues in Los Angeles may be more of a supply issue...but while its not San Francisco, Los Angeles also has a fairly strong tech market.
There was an article a year or so back. Dallas, Houston and New York City dominated the amount of new housing in the country. Now New York put all kinds of restrictions on it. Net result is New York had housing inflation almost as bad as California. But Dallas and Houston had moderate housing inflation despite the hotest economies in the country. Atlanta did relatively well in building new housing, but not on the level of those 3.
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Old Yesterday, 01:57 PM
 
30,240 posts, read 27,813,912 times
Reputation: 18806
Quote:
Originally Posted by Need4Camaro View Post
California added the least amount of housing per year per its inhabitants but in reality Texas as a whole isn't very far behind them in that category:

https://www.scpr.org/news/2018/05/03...ts-are-so-hig/

I haven't checked much into the housing market in DFW, I don't doubt that especially the northern suburbs are adding homes - but - I don't think its the only contributing factor. Note that DFW also cut out regulations on building materials that can be used to build homes in the more afluent suburbs, and while that may make homes more affordable, it takes a cut into the prestige and also brings question into the durability of certain newer developments. Also DFW's suburbs are also not 'cheap' anymore. They're not super expensive but its beginning to catch up with the rest of the country despite the inventory.

Here in Austin, there is definitely a housing shortage and while not California level, its pretty expensive to live in.

The reason tech industries - despite their much higher wages - absolutely massacre local economies with high CoL is because they attract more affluent employees with salaries capable of supporting more expensive homes. In California specifically there is practically an endless supply of skilled professionals willing to relocate there for work. In that aspect alone, housing cannot keep up with demands, then you have to factor in their much higher salaries in relation to the rest of the country - so not only is it a demand issue but you also are competing with salaries on a much higher scale which pushes the cost of housing up to the point where they can be supplied.

Look at what Amazon specifically did to Seattle and why a place that was once not too much more expensive than Chicago, is now nearly rivaling San Francisco...

The only ones who benefit from tech jobs are tech employees and usually not even them as they typically only retain a middle income standard of living while middle and lower income are altogether forced out the market.

The issues in Los Angeles may be more of a supply issue...but while its not San Francisco, Los Angeles also has a fairly strong tech market.
I'll have to amend my statement to say that Dallas appears to be doing better this year in terms of adding new housing, specifically new apartments but it is also having affordability issues as it continues to grow rapidly. Of the traditional tech hubs in the U.S., I think the NC Triangle (Raleigh/Durham/Chapel Hill) is probably doing the best in terms of maintaining affordability while still creating and attracting well-paying tech and other knowledge-based jobs.

https://cdn.vox-cdn.com/thumbor/OgFz...liveries_2.png
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Old Yesterday, 03:12 PM
 
218 posts, read 91,651 times
Reputation: 166
Quote:
Originally Posted by Need4Camaro View Post

For Fintech its Charlotte.
.

I would not say Charlotte is fintech. Charlotte is more financials. There is a very big difference between fintech and financials. It is nowhere near the level of Atlanta. Atlanta has major offices for some of the largest fintech companies in the US (Fiserv/Firstdata, Worldpay, GlobalPayments/TSYS, ICE, etc.).
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Old Yesterday, 05:53 PM
 
3,863 posts, read 986,457 times
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Quote:
Originally Posted by Ric 0_0 View Post
I would not say Charlotte is fintech. Charlotte is more financials. There is a very big difference between fintech and financials. It is nowhere near the level of Atlanta. Atlanta has major offices for some of the largest fintech companies in the US (Fiserv/Firstdata, Worldpay, GlobalPayments/TSYS, ICE, etc.).
Payments aren't necessarily Fintech. They want to be, since that's a big buzzword now. You listed some very good companies, though, that probably pay a lot.

When I hear of Fintech, I think of Two Sigma, Jane Street, Citadel, DE Shaw...

Here in RTP there's a lot of health sciences companies. 2017 list was the newest I could find:

https://files.rtp.org/wp-content/upl...rectory-V2.pdf
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Old Yesterday, 06:03 PM
 
2,378 posts, read 933,543 times
Reputation: 1846
Quote:
Originally Posted by Ric 0_0 View Post
I would not say Charlotte is fintech. Charlotte is more financials. There is a very big difference between fintech and financials. It is nowhere near the level of Atlanta. Atlanta has major offices for some of the largest fintech companies in the US (Fiserv/Firstdata, Worldpay, GlobalPayments/TSYS, ICE, etc.).
Yeah but those companies are also in several other metro's - most of these are also in Charlotte. Many of them are not HQ'd in Atlanta. Only 2 of the ones you mentioned are actually HQ'd in Atlanta.
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Old Yesterday, 06:05 PM
 
432 posts, read 215,210 times
Reputation: 594
Invesco is trying to build it's fintech platform. A lot of that is based in CA and internationally but it has it's heart in Atlanta.
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Old Yesterday, 09:32 PM
 
Location: atlanta
4,194 posts, read 4,917,169 times
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i fear that we are chasing the bright shiny objects for the short term and neglecting the long term economic stability of the city by putting all our eggs in one basket. tech jobs by definition are working to eliminate their own positions in the long term. we also have a very retail/service oriented economy. it doesn't seem sustainable.
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Old Yesterday, 10:01 PM
 
3,863 posts, read 986,457 times
Reputation: 4412
Quote:
Originally Posted by bryantm3 View Post
i fear that we are chasing the bright shiny objects for the short term and neglecting the long term economic stability of the city by putting all our eggs in one basket. tech jobs by definition are working to eliminate their own positions in the long term. we also have a very retail/service oriented economy. it doesn't seem sustainable.
Trades are also technically service jobs. Linemen and people working for AT&T make killer money but they don't "manufacture" anything in a classical sense.

These suburbs with a bunch of retail surrounding big cities like Atlanta are not indicative so much of a service economy, but more so a sign of more people working from home, or supercommuting. The suburbs and exurbs are a testament to Atlanta, not a bad omen unto themselves.
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Old Yesterday, 10:40 PM
 
30,240 posts, read 27,813,912 times
Reputation: 18806
Quote:
Originally Posted by Ric 0_0 View Post
I would not say Charlotte is fintech. Charlotte is more financials. There is a very big difference between fintech and financials. It is nowhere near the level of Atlanta. Atlanta has major offices for some of the largest fintech companies in the US (Fiserv/Firstdata, Worldpay, GlobalPayments/TSYS, ICE, etc.).
Actually fintech is pretty big in Charlotte:

https://bankinnovation.net/allposts/...n-2018-page-1/
https://www.wraltechwire.com/2018/10...-town-ranking/
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