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It wasnt for always. AZ and NV were the fastest-growing states, led by Phoenix and Vegas respectively.
PHX and LV might have slowed a bit, but they are gaining steam again. It wont be long before PHX's growth rates surpass Houston's. I see a huge influx of Texans to AZ, most looking to escape the garbage Texas weather. And if Houston keeps flooding like it does, more and more people are gonna get sick and tired of the nonsense and pack up and leave. And if the oil industry tanks, Houston is in for a world of hurt, while Phoenix will soldier on unphased.
Yes, Phoenix was growing even faster in the early 2000's. I was there at the time living in Tempe. It was a frenzy but unsustainable. I remember all the new homes being built in Gilbert, Queen Creek, Surprise, Avondale, North Scottsdale, Peoria, Buckeye, Maricopa etc. It seemed like it would never end.
The problem was that there was not enough underlying Major Industry to support the growth. It almost seemed like the growth was being supported by more growth. Almost all of the economy was just the regional economy feeding itself and all of this was fed by housing appreciation and the building boom. I remember that friends of mine refinanced their house which they had only owned for 3 years and then bought a new BMW and a Nissan 300 zx. They later lost the home to foreclosure.
Everyone had a piggy bank in the form of home equity. I even took out a 50k equity loan even though I didn't put a down payment on my house.
Texas is very different. It has a deep rooted economy that is not regional. It is a global reaching economy.
The money flows comes in from work being done all over the world. It also has some 50+ fortune 500 companies headquartered here. That is more than 10% of all the fortune 500 companies.
Houston has a higher birth rate, a higher population and much more foreign migration than Phoenix does. It would take a big change in the dynamics for Phoenix to start growing faster than Houston. First Phoenix would have to stop growing slower.
I think that even the Riverside area of California is performing better that the Phoenix Area.
Yes, Phoenix was growing even faster in the early 2000's. I was there at the time living in Tempe. It was a frenzy but unsustainable. I remember all the new homes being built in Gilbert, Queen Creek, Surprise, Avondale, North Scottsdale, Peoria, Buckeye, Maricopa etc. It seemed like it would never end.
The problem was that there was not enough underlying Major Industry to support the growth. It almost seemed like the growth was being supported by more growth. Almost all of the economy was just the regional economy feeding itself and all of this was fed by housing appreciation and the building boom. I remember that friends of mine refinanced their house which they had only owned for 3 years and then bought a new BMW and a Nissan 300 zx. They later lost the home to foreclosure.
Everyone had a piggy bank in the form of home equity. I even took out a 50k equity loan even though I didn't put a down payment on my house.
Texas is very different. It has a deep rooted economy that is not regional. It is a global reaching economy.
The money flows comes in from work being done all over the world. It also has some 50+ fortune 500 companies headquartered here. That is more than 10% of all the fortune 500 companies.
Houston has a higher birth rate, a higher population and much more foreign migration than Phoenix does. It would take a big change in the dynamics for Phoenix to start growing faster than Houston. First Phoenix would have to stop growing slower.
I think that even the Riverside area of California is performing better that the Phoenix Area.
OK half-empty. I agree with some of what you said, but the Inland Empire is not growing faster than Phoenix. In fact, the Phoenix MSA passed the Riverside-San Bernardino-Ontario MSA in population. The Phoenix area may not be growing like it did over the past two decades, but even its slower growth is still fantastic and much more sustainable as its economy is diversifying as well.
While Houston and Dallas were the top two fastest-growing metros as of last year when it comes to numerical population growth (from 7/1/14-7/1/15), Phoenix was 4th. Therefore, according to the U.S. Census Bureau, Phoenix is still is one of the fastest-growing. Austin and San Antonio (while still fast-growing) were down the list at 14th and 15th.
Source please.
Here's my source - top ten fastest growing cities of 2015:
Dallas and Fort Worth were ranked just below Phoenix but if you've been to either of those cities you quickly realize why that area is called the Metroplex. It's basically one big urban center - both cities have grown so quickly that you really never leave "the city" when driving from Dallas to Fort Worth. Combined (which they basically are, no matter how much both cities protest this fact), they would outrank Austin and come in 4th place, ahead of San Antonio as well.
But your figures come from mid 2015 anyway. By the end of 2015, Houston, Austin and Dallas growth outranked all US cities.
Dallas and Fort Worth were ranked just below Phoenix but if you've been to either of those cities you quickly realize why that area is called the Metroplex. It's basically one big urban center - both cities have grown so quickly that you really never leave "the city" when driving from Dallas to Fort Worth. Combined (which they basically are, no matter how much both cities protest this fact), they would outrank Austin and come in 4th place, ahead of San Antonio as well.
But your figures come from mid 2015 anyway. By the end of 2015, Houston, Austin and Dallas growth outranked all US cities.
There are some absolutely ridiculous things being said about both cities in this thread. Phoenix isn't Venus, and Houston isn't a cesspool and probably won't tank due to an oil industry crash any more than Chicago will crash due to its unfunded pension obligations (which I honestly believe is more of a threat, but that's another thread).
That being said, I prefer a dry heat to humidity, but both are pretty terrible in the peak of the summer. 93F plus humidity is awful; so is 105-110F with no humidity.
There are some absolutely ridiculous things being said about both cities in this thread. Phoenix isn't Venus, and Houston isn't a cesspool and probably won't tank due to an oil industry crash any more than Chicago will crash due to its unfunded pension obligations (which I honestly believe is more of a threat, but that's another thread).
That being said, I prefer a dry heat to humidity, but both are pretty terrible in the peak of the summer. 93F plus humidity is awful; so is 105-110F with no humidity.
Thank you. The thread took a turn for the worse when a certain person that bashes people for their preferences chimed in.
Dallas and Fort Worth were ranked just below Phoenix but if you've been to either of those cities you quickly realize why that area is called the Metroplex. It's basically one big urban center - both cities have grown so quickly that you really never leave "the city" when driving from Dallas to Fort Worth. Combined (which they basically are, no matter how much both cities protest this fact), they would outrank Austin and come in 4th place, ahead of San Antonio as well.
But your figures come from mid 2015 anyway. By the end of 2015, Houston, Austin and Dallas growth outranked all US cities.
Well, I am rather familiar with Dallas and Fort Worth as I lived in the area before. In any case, I mentioned the census being the source, so I hope that answers that question. Furthermore, are you speaking about percentage of growth or numerical population growth? I'm trying to figure out how you would know that those cities outranked all US cities at the end of 2015 when those numbers aren't even available from the census yet.
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Phoenix Growth
