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If we go into another recession, certain areas will be impacted more than others, correct? For instance, the SF Bay Area should face some kind of real estate correction. Other places such as Boulder / Denver, Seattle and Atlanta had a sharp increase in housing prices compared to the Phoenix area, which saw a slow increase in RE prices. Will these places that had a sharp increase tank in a worse way than the Phoenix area? What will happen to the different regions of the country? How will Michigan, Illinois, Ohio and the rest of the midwest fare compared to the northeast, southeast, southwest, etc?
Any predictions?
Maine has been in a constant state of economic recession for as long as I have been alive. The decline of small, locally-owned shops means that the average Mainer has to drive for many miles to get the things they need. The fact that most of those things are made in China, as cheaply as possible, means that they wear out more quickly, and the prices have risen over the years faster than most people's wages, such that the price you pay for junk at the regional big box store (on top of the $15 to $20 in gas round-trip to get to the big box store) is about what you would pay 20 years ago for quality merchandise from the local shops.
The town I grew up in used to have everything you needed right in town. A grocery store, bank, clothing store, toy store, hardware store, drug store and several really nice restaurants. All in a town with less than 2,500 people. Now? We're lucky we can still get food in town, anyway. Need a prescription refilled? Not in town anymore. Need to fix your toilet? Head to the nearest city. Want to buy a toy for your kid? Again, a trip to the city is required. Need affordable clothes? Good luck!
I blame bad governance for most of the problems here; at the local, state, and federal level. The local level is riddled with nepotism and favoritism, where those in power do all they can to prevent any competition from moving in. The state and federal levels have so many regulations that a single person cannot keep up with them all. The legislature often looks at the merits of a single law. X will be good or bad because Y. They never seem to look at all of the laws as a whole. X may not be the reason a person opts out of entrepreneurship, but everything else plus X, and many people just say "it ain't worth the headaches" and live their lives as employees. This is a real problem that needs to be addressed if we're ever going to see economic recovery in small town America. Running a business is hard enough in and of itself, the last thing we need is a government that discourages people from even starting out!
Chicago is a huge, prosperous city with an extremely diverse economy. For those actually working in Chicago, they'll be fine.
Places like Flint, Saginaw, and other small Rust Belt towns never really recovered. They're still a mess. Same with most of WV. There isn't that much lower to sink.
I think rural areas will be crushed the hardest.
LOL one of the most corrupt cities in the US. Parts of it are more violent than the worst areas in a third world country. Chicago's city government is a mess and can't even pay its bills it has so much debt!!!!!!!!! But if you think it, I'm sure the clouds will rain skittles in your world.
You can paint your rosy picture of the USA but we are in DIRE economic trouble. I mean $19 trillion in debt?????????????? LMAO! I think Americans are some of the most brainwashed people in the world lately.
LOL one of the most corrupt cities in the US. Parts of it are more violent than the worst areas in a third world country. Chicago's city government is a mess and can't even pay its bills it has so much debt!!!!!!!!! But if you think it, I'm sure the clouds will rain skittles in your world.
You can paint your rosy picture of the USA but we are in DIRE economic trouble. I mean $19 trillion in debt?????????????? LMAO! I think Americans are some of the most brainwashed people in the world lately.
Really? Wonder how I missed this, living in Texas.
Well, Houston is not having a good year with the oil downturn. The Texas economy is now diversified enough that it's not collapsing like it might have a couple decades ago.
Alaska is the place that has some huge issues. Not only are they hurt by declining crude oil prices. The volume of oil is also on a decline and it's not economical to drill in the Arctic Ocean even if they could get approval to do so. It's a low population so it's not in the national news but it's going to get ugly there.
Don't want to be anywhere where there was oil boom, because whether it be Calgary or Houston or even ND there be problems now with crimes, suicides, and other problems that come with an econ wipe out.
Don't want to be anywhere where there was oil boom, because whether it be Calgary or Houston or even ND there be problems now with crimes, suicides, and other problems that come with an econ wipe out.
Oil, Up then down. Lots of out of work people where there was lots of work before. Any more places? Coal is hard hit now.
Don't want to be anywhere where there was oil boom, because whether it be Calgary or Houston or even ND there be problems now with crimes, suicides, and other problems that come with an econ wipe out.
Houston will be affected but it's just incorrect to say that the economy will be wiped out. Houston has undergone a huge population boom that has caused a huge institutional boom that is taking advantage of lower construction costs.
Obviously if oil prices stay "low" well into 2017 then we might be singing a different tune.
The problem in Illinois is that the unfunded pension liability problem is going to take down the whole state. It's up to $111 billion. If you jack up taxes, the businesses move to lower tax states.
I can't feel sorry for these pension burdened states at all. They should have promised just 401k style plans or 1200/mo in Social Security benefits like the average senior lives on.
I hope that the these cities and states have to honor all the pension obligations and they learn a lesson. Other then first responders, the majority of government employees are well known to be seat warmers anyway. Usually you have to talk to a batallion of executive assistants before you can talk to city or state employee that does anything tangible.
Its amazing how neighboring Wisconsin was accountable and has no unfunded pension liabilities. South Dakota has a surplus and is fully funded.
The pension issues will mainly hit the big, old cities that are already a fiscal mess the worst.
Houston will be affected but it's just incorrect to say that the economy will be wiped out. Houston has undergone a huge population boom that has caused a huge institutional boom that is taking advantage of lower construction costs.
Obviously if oil prices stay "low" well into 2017 then we might be singing a different tune.
It seems that way dv1033.
Good luck to y'all
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one of the most corrupt cities in the US. Parts of it are more violent than the worst areas in a third world country. Chicago's city government is a mess and can't even pay its bills it has so much debt!!!!!!!!! But if you think it, I'm sure the clouds will rain skittles in your world. 
$19 trillion in debt?????????????? LMAO! I think Americans are some of the most brainwashed people in the world lately.
