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I'd highly enjoy a comparison of job growth to housing units built. It's funny that cities forget employees need housing, so it would be interesting to see which metros are keeping up with housing construction the best.
I think this post starts to tease out that housing growth doesn't limit job growth if the job growth is high salary jobs. I bet a lot of Dallas's growth is tied to affordability while the Bay Area's growth is tied to salaries and career opportunity.
btw, thanks for posting 18montclair. Interesting stuff.
Oh yeah my fault I forgot. But even so relative to it's size that's pretty low. It's the third largest metro area in the US and barely made the top ten so it's probably the exception to the list. New York and LA are so much larger than the rest of the cities too so the same thing applies to them to some extent. The rest of the cities on the top ten list are ones that are seeing pretty significant population explosions.
Oh yeah my fault I forgot. But even so relative to it's size that's pretty low. It's the third largest metro area in the US and barely made the top ten so it's probably the exception to the list. New York and LA are so much larger than the rest of the cities too so the same thing applies to them to some extent. The rest of the cities on the top ten list are ones that are seeing pretty significant population explosions.
uhh.....Did you see...DALLAS?....In case you didn't... it was just a hair behind LA.
What makes the Dallas growth so spectacular is you can’t tie it into one particular industry. This is a true boom of multiple industries that’s packing a huge punch. The DFW economy has always been as steady as they come and never really experienced boom and bust cycles because of how diverse the economy is. The region learned its lesson during the 80’s finanicial crash not to put all its eggs in one basket.
Is like to point out places like Vegas, Atlanta, Phoenix and Detroit are inflated because the recession was so bad there, while other cities like Boston or Chicago didn’t really get nearly the unemployment rate those others did so there was less room to grow.
What I envy about Dallas compared to here is the pace that new housing is built, how it is commensurate to the job growth.
Perfect example. The Inner Bay Area created jobs in the same numerical and percent range as Dallas, which is astounding.
FEB 2010-FEB 2019 Percent Growth/Metro Area/Numerical Job Growth
+30.22% San Francisco-San Jose +835,200
+29.60% Dallas +852,200
Yet Dallas issues 2.5 times more housing permits per annum.
New Housing Permits Issued 2018
Dallas 63,421
San Francisco-San Jose 26,049
Dallas permits 5.5 times more SFHs than the SF-SJ Metros.
New Single Family Home Permits Issued 2018
Dallas 36,196
San Francisco-San Jose 6,493
This^ has to change like 20 years ago.
Dallas has room for growth the bay area is full, instead you have more people cramming into the same residents. It's not uncommon at all for families to share homes in the bay area now, it's just the way of life to be there.
Grand Rapids shouldn’t be too surprising. It’s shown up pretty consistently for top 10 economic metro growth stats for the last 6-7years. It was the fastest growing large metro economy in 2014. Most people who are surprised by its economic performance have written it off because it’s in Michigan and are going off assumption.
But why? What the hell is in Grand Rapids? It's small, it's isolated, it's inconveniently located between nothing and nowhere, it's not a capital nor a major college town so it's not being propped up by the public sector... what's driving this place?
What I envy about Dallas compared to here is the pace that new housing is built, how it is commensurate to the job growth.
Perfect example. The Inner Bay Area created jobs in the same numerical and percent range as Dallas, which is astounding.
FEB 2010-FEB 2019 Percent Growth/Metro Area/Numerical Job Growth
+30.22% San Francisco-San Jose +835,200
+29.60% Dallas +852,200
Yet Dallas issues 2.5 times more housing permits per annum.
New Housing Permits Issued 2018
Dallas 63,421
San Francisco-San Jose 26,049
Dallas permits 5.5 times more SFHs than the SF-SJ Metros.
New Single Family Home Permits Issued 2018
Dallas 36,196
San Francisco-San Jose 6,493
This^ has to change like 20 years ago.
All of those sprawling campuses with giant parking lots that SV tech companies are in could have instead been urban villages with townhomes, apartments, etc. There's already rail lines near many of them. The good thing is they can still be redeveloped this way but people in those areas would never approve any zoning change.
Quote:
Originally Posted by locolife
Dallas has room for growth the bay area is full, instead you have more people cramming into the same residents. It's not uncommon at all for families to share homes in the bay area now, it's just the way of life to be there.
The Inner Bay Area is far from full. Not even San Francisco is full. There is so much potential for redevelopment, starting with suburban style commercials areas. You can turn them into mixed-use developments and start solving some of the problem.
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uhh.....Did you see...DALLAS?
....In case you didn't... it was just a hair behind LA.
