U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > General U.S.
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 04-08-2016, 09:26 AM
 
10,553 posts, read 13,111,831 times
Reputation: 6351

Advertisements

Quote:
Originally Posted by NOLA101 View Post
Texas has some of the fastest growth in the U.S.

You can't take 90 days of economic activity as a proxy for overall economic growth; one bad weather event or stock swing will have a huge impact on such a short time period.
Two quarters in a row of very slow GDP growth. 2nd quarter was 0.5%, 3rd was 0.1%. We'll see what happens in the coming in coming months.
Quick reply to this message

 
Old 04-08-2016, 10:03 AM
 
Location: Boston, MA
8,721 posts, read 7,673,512 times
Reputation: 7624
I'm very skeptical of the booms in places like Minneapolis and Columbus due to their inflation benefitting from state or national policies. Not really unique to these cities, but I think their ratio of propped up industries (health care, education especially) compared to manufacturing or other productive industries is troublingly low.
Quick reply to this message
 
Old 04-08-2016, 12:17 PM
 
1,290 posts, read 1,124,311 times
Reputation: 2152
Quote:
Originally Posted by bjimmy24 View Post
I'm very skeptical of the booms in places like Minneapolis and Columbus due to their inflation benefitting from state or national policies. Not really unique to these cities, but I think their ratio of propped up industries (health care, education especially) compared to manufacturing or other productive industries is troublingly low.
This is an interesting point. Healthcare is going to be a fascinating industry to watch over the next 25 years. Obviously everyone needs it so it's a fairly inelastic product (meaning price sensitivity is low). But shifts in payer-side incentives will cause lots of turmoil.

As FAs as Minneapolis it is a fairly diversified corporate culture. Retail, Agriculture, Tech, Engineering etc. But yes, lots of healthcare/health tech companies too.
Quick reply to this message
 
Old 04-10-2016, 04:25 PM
 
5,819 posts, read 5,180,387 times
Reputation: 17729
Don't forget that the underlying economic base for both Des Moines and Sioux Falls is agriculture, and I think that may still be true about Minneapolis. Even if insurance and health care take a hit, ag will always be there.
Quick reply to this message
 
Old 04-10-2016, 07:27 PM
 
Location: Minneapolis
2,331 posts, read 3,053,426 times
Reputation: 3925
Quote:
Originally Posted by bjimmy24 View Post
I'm very skeptical of the booms in places like Minneapolis and Columbus due to their inflation benefitting from state or national policies. Not really unique to these cities, but I think their ratio of propped up industries (health care, education especially) compared to manufacturing or other productive industries is troublingly low.
Minneapolis has been growing at its current rate (more or less) since the end of WWII. It isn't like it is some sudden boomtown. Its largest sector is agribusiness. It is the main financial and commercial hub of the northern plains in the same way that Boston is for New England or Atlanta is for the southeast. It also has a larger manufacturing sector than most other major metros in the Midwest because it never lost its manufacturing base (which is centered around food processing but is highly diversified).
Quick reply to this message
 
Old 05-09-2016, 11:59 PM
 
1 posts, read 734 times
Reputation: 10
What about Davenport, IA? My friend is suggesting this area.
Quick reply to this message
 
Old 05-11-2016, 10:33 AM
 
11,172 posts, read 22,366,973 times
Reputation: 10919
Quote:
Originally Posted by 601halfdozen0theother View Post
My guess was going to be that it might be related to the boom in farming that ended a few years ago. There is a LOT of money floating around even very small communities, and local and regional banks benefit from that. That boom in the prices of commodities and farm land seemed to have occurred at the same time that the rest of the national economy was tanking 2008 - 10.

But this site: https://www.freeenterprise.com/des-m...-economic-hub/ says that it is because Des Moines has always been conservative and therefore local banks didn't overvalue real estate or overmortage iffy homeowners. Therefore, people and banks in this city were able to thrive when most of the rest of the country fell into the subprime mortgage driven recession of 2008-10. So, maybe it was an advantage to be in "flyover country" and ignored by real estate investors in the years before the recession.

The state also gives very favorable tax rates to corporations, which can be viewed in a variety of ways based on your feelings about that issue. It is true that at the same time the boom has been happening in Des Moines, manufacturing has been in sharp decline in other areas of the state due in a large part to these same corporations outsourcing production overseas, and those other areas, like Davenport/Bettendorf, are still in decline.

Des Moines also has a diversified economy, with the anchors of insurance, health care, banking, and farming.

Come to think of it, these are the same economic anchors in Sioux Falls.
What's Des Moines have to do with farming though? There's really nothing farm based at all in the city, and only 5% of Iowa's population are farmers and agriculture is a small part of the actual overall economy.

Des Moines is basically booming because it is a highly educated white collar city that focuses on insurance, healthcare and printing/publishing.

It's invested heavily in its downtown area making more entertainment and urban style living areas. In doing that it has become much more popular with the educated younger people of the state who all use to leave immediately for Minneapolis or Chicago. That's given it positive ratings as far as companies are concerned and there's been a ton of business expansion in the metro area.

Low cost of living, relatively high wages, low crime, low traffic, great schools.

Those all combine and it's been a huge draw for people and jobs.
Quick reply to this message
 
Old 05-11-2016, 01:44 PM
 
Location: Mexico City, formerly Columbus, Ohio
13,097 posts, read 13,480,618 times
Reputation: 5771
Quote:
Originally Posted by bjimmy24 View Post
I'm very skeptical of the booms in places like Minneapolis and Columbus due to their inflation benefitting from state or national policies. Not really unique to these cities, but I think their ratio of propped up industries (health care, education especially) compared to manufacturing or other productive industries is troublingly low.
Here we go again.


If your theory was right, it would've easily been tested during the recession, the worst economic conditions since the 1930s. Both saw relatively mild declines and then strong recoveries. What you're talking about happening are very specific declines and would affect just about every city, not just those without strong manufacturing bases. In any case, I don't think you have been able to name any circumstances that would create such a targeted decline that would hurt cities like Columbus but leave so many others unscathed. Most major Midwestern cities have heavy concentrations of jobs in government (local, state and federal), education and health. Without massive defunding of all of this at all levels, which would be economically devastating across the country, I would not exactly hold you breath waiting for that kind of collapse.
Quick reply to this message
 
Old 05-11-2016, 01:45 PM
 
Location: Mexico City, formerly Columbus, Ohio
13,097 posts, read 13,480,618 times
Reputation: 5771
Quote:
Originally Posted by 601halfdozen0theother View Post
Don't forget that the underlying economic base for both Des Moines and Sioux Falls is agriculture, and I think that may still be true about Minneapolis. Even if insurance and health care take a hit, ag will always be there.
Unless the feds decide to end farm subsidies, and then yeah... the end of that.
Quick reply to this message
 
Old 05-11-2016, 02:02 PM
 
Location: Boston, MA
8,721 posts, read 7,673,512 times
Reputation: 7624
Quote:
Originally Posted by jbcmh81 View Post
Here we go again.


If your theory was right, it would've easily been tested during the recession, the worst economic conditions since the 1930s. Both saw relatively mild declines and then strong recoveries. What you're talking about happening are very specific declines and would affect just about every city, not just those without strong manufacturing bases. In any case, I don't think you have been able to name any circumstances that would create such a targeted decline that would hurt cities like Columbus but leave so many others unscathed. Most major Midwestern cities have heavy concentrations of jobs in government (local, state and federal), education and health. Without massive defunding of all of this at all levels, which would be economically devastating across the country, I would not exactly hold you breath waiting for that kind of collapse.
lol here we go again.

When you say "recovery" do you mean "quantitative easing?"

These are not the same thing. We never bottomed out. But sure, ignore simple math and basic economic truths. You're certainly free to do so. Hopefully you won't come back to this post on this forum some years down the road and regret your ignorance, but you might.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > General U.S.
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top