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Old 03-31-2014, 01:55 PM
 
8,328 posts, read 14,613,697 times
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Quote:
Originally Posted by pantin23 View Post
Jobs,"It's the economy stupid"
The economy in California is doing quite well right now, we're riding another boom wave and there is a lot of money to be made in everything from high-tech industries to construction and food service. And we pay more, especially for working-class folks, than places like Texas--and those on the lower end of the income scale pay less in taxes here.
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Old 03-31-2014, 04:53 PM
 
Location: Richmond/Philadelphia/Brooklyn
1,263 posts, read 1,279,577 times
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Quote:
Originally Posted by wburg View Post
The economy in California is doing quite well right now, we're riding another boom wave and there is a lot of money to be made in everything from high-tech industries to construction and food service. And we pay more, especially for working-class folks, than places like Texas--and those on the lower end of the income scale pay less in taxes here.
I was referring more to the Northeast (especially the Rustbelt). But I would agree with you on cost of living being an issue for Californians (which relates to the Californian economy at least ).
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Old 03-31-2014, 04:58 PM
 
Location: Richmond/Philadelphia/Brooklyn
1,263 posts, read 1,279,577 times
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I think I will also point out the fact that Northeast cities, and recently some Rustbelt cities are making a comeback. Look at Pittsburgh, Chicago, and Baltimore, all cities which people looked at as If they were Cleveland, St Louis, or Detroit 10-15 years ago. Now all 3 appear to be making a comeback, (atleast in population numbers), although I know that new industries are beginning to take the places of old (ex: tech in Pittsburgh).
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Old 04-01-2014, 08:22 AM
 
Location: Portland, Oregon
46,053 posts, read 29,671,986 times
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Quote:
Originally Posted by pantin23 View Post
I think I will also point out the fact that Northeast cities, and recently some Rustbelt cities are making a comeback. Look at Pittsburgh, Chicago, and Baltimore, all cities which people looked at as If they were Cleveland, St Louis, or Detroit 10-15 years ago. Now all 3 appear to be making a comeback, (atleast in population numbers), although I know that new industries are beginning to take the places of old (ex: tech in Pittsburgh).
I actually like how much these three cities have made a comeback. They have all done a great job diversifying their economy and moving beyond their rust belt era.
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Old 04-01-2014, 01:16 PM
 
60 posts, read 72,446 times
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Arrow The US is going urban.

Wonk Blog in the Washington Post published an article this week, Metropolitan Areas Are Now Fueling Virtually All of America's Population Growth.

Quote:
Nearly one in seven Americans lives in the metropolitan areas of the country's three largest cities: New York, Los Angeles and Chicago.
...
Add metro Dallas-Fort Worth, Houston, Philadelphia, Washington, Miami, Atlanta and Boston to that group (totaling the country's 10 most populous metros), and nearly one in three Americans lives in these few spots on the U.S. map.

"We are a much more big urban nation than a lot of people think," says William Frey, a demographer with the Brookings Institution.
If you want to see your Metropolitan and/or Micropolitan areas, see this page from the US Census. The time periods are from April 1, 2010 - July 1, 2013 with separate columns for July 1, 2012 - July 1, 2013.
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Old 04-01-2014, 01:18 PM
 
Location: southern california
55,863 posts, read 74,880,238 times
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rarely do people improve their lives by constantly moving.
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Old 04-03-2014, 09:41 PM
 
Location: Port Charlotte
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As a real estate professional in Texas, I can state for a fact that people are moving here from the NE and CA because of the cost of living, much more affordable housing, and better jobs.

As to tech jobs, Texas has passed CA in tech jobs, exports, now No 1. Perhaps the jobs pay less,but the cost of living, lack of a income tax, results in a net higher standard of living.
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Old 04-06-2014, 09:54 PM
 
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We left California for personal reasons not having to do with housing costs, but when we left the Bay Area rental market was absolutely nuts. The cost of living is clearly extremely expensive -- we found SF apartments to be more expensive than Manhattan -- but for every unit on the market there was a line out the door ready to pay top dollar for it. There are plenty of people moving out, and plenty of people more than willing to take their place.
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Old 04-07-2014, 05:43 AM
 
333 posts, read 328,060 times
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Quote:
Originally Posted by pantin23 View Post
I think I will also point out the fact that Northeast cities, and recently some Rustbelt cities are making a comeback. Look at Pittsburgh, Chicago, and Baltimore, all cities which people looked at as If they were Cleveland, St Louis, or Detroit 10-15 years ago. Now all 3 appear to be making a comeback, (atleast in population numbers), although I know that new industries are beginning to take the places of old (ex: tech in Pittsburgh).
Chicago has a 9% unemployment rate, is heading towards bankruptcy, has a poor school system, etc. Also Chicago's population went down in the last 10 years, and so did St Louis again. Now Chicago and St Louis area has grown a bit, but nowhere as fast as the southwest. Also Chicago is right now stagnant as the local and state government are idiots.
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Old 04-19-2014, 11:35 AM
 
Location: Phoenix, AZ
464 posts, read 643,118 times
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Housing costs in the San Francisco Bay Area (buy or rent) are ridiculous and stupid. Tech workers are generating massive income inequality, which is stoking massive resentment.

Worse, rather than building high-density housing or accommodating the demand, cities in the Bay Area are enacting defenses against the tide (my friends in the Bay Area tell me that Livermore and Pleasanton, overwhelmed with the outflow, have passed anti-sprawl zero-growth ordnances).

The median home price in the Bay Area for a house or condo is $570k. (Home prices jump by double digits in last year in Bay Area - SFGate)
If you assume excellent credit and a 10% down payment, that's a $3,400 monthly payment.

So ask yourself how many blue-collar workers can afford to put away $57k? Ask yourself how many blue-collar workers can afford a standard debt ratio like that - remember that the absolute maximum debt ratio that most lenders will touch is around 45%. A $3,400 monthly payment requires almost $7,600 in monthly take-home pay. Considering the usual withholding in California, they'd have to make $120k-140k. This assumes they don't have car payments, credit card payments, or other things that would mess with their debt ratio. It assumes they're not saving for retirement - and yes, the house can perhaps serve as their retirement fund, but housing bubble. ;-)

This means people in the Bay Area rent, and landlords feast on that. Drive through the Bay Area some time, and you'll see hundreds of neighborhoods filled with hundreds of thousands of aging houses that few can afford to renovate. Few can afford to move up or expand if they add family members. Apartments are dilapidated and deteriorating - more in rent-controlled areas, because landlords can't easily recoup renovation costs.

It's like some kind of Thoreau-esque world, with people living lives of grim desperation, scrabbling to get ahead of the bills, with no real chance of dramatically improving their lot without relocating to a different area. Everyone's anxious about being utterly ruined if they have some catastrophic expense, or lose that shiny cool job. So they go to Seattle, or Portland, or Phoenix, where the locals hate their guts because they're happy to drop money on a house that's cheap by Bay Area standards. But by spending that money, they start the desperate cycle in the landing pad cities, too.

The Bay Area's in danger of other explosions, too, but those are different topics. (No, I don't mean in terms of changes in demographic ethnicity - that's a welcome change in most cases - but rather in terms of the educational and child care infrastructure, the streets and roads, the power grid and water structure. The Bay Area is the land of NIMBY, dual-income-no-kids, and if-it-ain't-broke-don't-fix-it.

As much as I love Silicon Valley and the Palo Alto/Mountain View/Cupertino area, I think it's cruising for problems.
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