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Old 01-16-2014, 02:34 PM
 
Location: Paris
1,773 posts, read 2,674,958 times
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Quote:
Originally Posted by LINative View Post
Its funny, I think most Americans would rank Miami as a lesser city then the 3 great Southern cities; Atlanta, Houston and Dallas. I certainly know I would.

But I guess you have to consider that Miami is a big business hub for Latin America and the Caribbean.
I'm definitely not sure of that at all... "Most" Americans no very little about things like the economies of these cities and would probably base their rankings on notoriety/fame, and Miami (through culture) is probably much more well known...
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Old 01-16-2014, 02:34 PM
 
Location: SF Bay Area
18,982 posts, read 32,644,089 times
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Quote:
Originally Posted by LordHomunculus View Post
You would think so with areas like this:

https://maps.google.com/maps?q=Miami...65.75,,0,13.04
Is that any worse than some bombed out looking abandoned Philly hoods though?
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Old 01-16-2014, 02:57 PM
 
Location: Atlanta Metro Area (OTP North)
1,901 posts, read 3,085,425 times
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GaWC be trolling...
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Old 01-16-2014, 03:07 PM
 
1,512 posts, read 2,363,845 times
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Quote:
Originally Posted by sav858 View Post
Is that any worse than some bombed out looking abandoned Philly hoods though?
Same stuff, different architecture and landscape. Philly definitely has its own quirks that it needs to work out, but it still remains stable in many of its surrounding areas to the point that the average income remains high and poverty levels of the metro are relatively low compared to even the Dallas, Chicago and NYC metros. On the other hand, SFL (or all of Florida) is going to continue receiving an influx of more people and all of SEFL is going to be a giant sprawl of dilapidated trailers, cheap stucco houses, etc. etc. just so people can come and soak up that special sunshine that has helped Florida grow. It's bad enough that poverty levels are already high and if people aren't in poverty, they're close to it. So in many ways, I can see how Miami, if not already, will be a USA version of Rio, with large amount of poor people throughout the whole inner region and super duper luxurious condos along the coast.

Last edited by LordHomunculus; 01-16-2014 at 04:07 PM..
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Old 01-16-2014, 03:51 PM
 
14,256 posts, read 26,937,981 times
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Quote:
Originally Posted by jsimms3 View Post
New news to me. Always thought Austin was the tech stronghold in TX and sort of in that tier behind SF/SV, Seattle, and NYC.

For finance, working in the sector indirectly (PE real estate), never viewed Dallas as a big finance hub either. For banking, for instance, if you bank energy, you go to Houston. If you bank tech, you go to SF. If you bank gaming and certain tech industries, as well as entertainment, you go to LA. If you want to bank life sciences and healthcare firms, you go to Boston. If you bank industrials, you go to Chicago. Almost any sector can bank out of NYC.

To me, Atlanta and Houston are much more finance heavy than Dallas, Houston taking the cake simply because of the nature of its economy. Atlanta has more commercial banks (and larger), has the ICE, and even has Invesco, the parent company of Invesco Real Estate headquartered in Dallas. There is a larger IB presence in Atlanta, and still a larger presence in Houston. Though economically, Dallas and Atlanta seem quite similar - global powerhouses for Global 500 and F500 HQs. Very diverse economies that ride the macro global and US economic cycles, but no one industry that stands out.

Houston is a "category killer" with energy. It rides energy cycles and serves as a global focal point for that entire, massive and important growing global sector. In real estate, when you buy an apartment building in Houston or an office building, in a sense, you are literally making a bet one way or the other on the energy sector and perhaps even on the price of oil.

Similarly, SF and the Bay Area serves as the focal point for tech, though tech is a little more spread out nowadays than "energy" ever will be. A bet on SF multifamily can be seen as a bet on the tech industry, and its movement into the city from the Valley and on its general expansion. If tech and social media valuations collapse and VC funding shrinks, you can bet that office building developers, recent buyers, and multifamily buyers and developers will be hung out to dry in similar fashion to the Dot Com bust in 2000.

Certain cities are global powerhouses in one dominant industry.

What nobody can say about Miami or SoFla in general is that it is an economic powerhouse. In fact, GDP per capita is actually extremely low for a city its size. Dismally low. And cost of living is considerably higher than in peer cities Atlanta, Houston, and Dallas. That means it functions more like a developing country with a "service-industry" economy and heavy tourism (like Rio for instance), than a developed western country city with an advanced "service" economy (like any of the other peer cities in its group).

When you buy real estate in Miami, you are betting on tourism and flight money from countries such as Brazil and Argentina. You are betting that the city will continue to grow in appeal to wealthy foreign investors. You are not betting on a growing middle class and growing LOCAL wealth base, which comes with rising incomes and lower unemployment. On these grounds alone, the economy in Miami and SoFla is not as strong as it is in major peer wealth/economy centers in America, such as DC, SF, Houston, etc. The investor class attracted to Miami is also quite different from those attracted to Miami's peers. Not to sound bitter or snide, but it's my understanding that while many smart people reside in Miami and invest in the region, that quite frequently there is a large group of "newbie" investors or lowest common denominator types, even those with seemingly lower moral stands, in the area (whether it be on the corporate services side, the legal side, the real estate side especially, or the banking side). Just what I've heard.
Seems accurate. Sums it up. Having said that, folks are forgetting one thing about Miami, and it's connectivity to Latin America. And that's through the realm of television. Telemundo, and Univision, have many studios in Miami, in which some of the most watched Telanovelas and Latin Varity Shows are filmed. Miami's role in Latin-American TV is huge, including UniMas(A subsidiary of Univision). UniMas is headquartered in Miami.
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Old 01-16-2014, 04:05 PM
 
Location: On the Great South Bay
9,169 posts, read 13,244,033 times
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Quote:
Originally Posted by Red John View Post
He explained his methodology for the Alpha-Beta-Gamma-High-Sufficiency stratas a few years ago actually. The cities are ranked by intensive and extensive connections firms have with London. The ranking is how the planet's financial centers have a presence from or in London.

GaWC Research Bulletin 409

It's never been a ranking for the world's most powerful cities. It's silly really, they wouldn't include something as trivial as height of skyscrapers as the criteria for an importance ranking, not in a capitalist savvy world.
I never liked the GaWC system, even with NYC at the top. I am not sure but I think from past GaWC threads that I thought they put too much emphasis on International communications. I do not remember why but I think I noticed that there seemed to be an advantage for European cities and a disadvantage to cities in large countries like the USA, China, India, Russia, Canada, Brazil etc.. In other words, I thought it was overemphasizing international but not internal trade, which the larger countries have a lot of.

And now if what your saying is true - that they measure a cities communications to London (or for that matter any other one city only), well that explains alot. Very disappointing actually.
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Old 01-16-2014, 04:07 PM
 
3,451 posts, read 3,910,554 times
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Quote:
Originally Posted by Chilly Gentilly View Post
Salt Lake City has also hosted an Olympics. Does that mean anything to you?? Didn't think so. And regarding what it "seems" to you, its called PR and Marketing. Atlanta's gotten pretty good at that over the years. I'm not a huge fan of any Texas city, but there's a reason Houston is the 4th largest city in the nation.
It's called Its called annexing land that's how it's 4th. How big do u thing Philly would be if it's city area was close 600 sq miles. It's already over a million in 150 sq miles.
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Old 01-16-2014, 04:16 PM
 
Location: South Beach and DT Raleigh
13,966 posts, read 24,156,607 times
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Quote:
Originally Posted by Staysean23 View Post
It's called Its called annexing land that's how it's 4th. How big do u thing Philly would be if it's city area was close 600 sq miles. It's already over a million in 150 sq miles.
^uh, yeah....

Another example would be that both Charlotte and Austin have about the same land area as NYC.
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Old 01-16-2014, 04:28 PM
 
14,256 posts, read 26,937,981 times
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Quote:
Originally Posted by tmac9wr View Post
It's significant for sure. However I don't think this is necessarily going to bring Miami's economy to the next level.

In all fairness, with the exception of Miami Beach, if Miami disappeared from the face of the earth we wouldn't be missing it either.
Given how big of a Brand LeBron James is, I'm sure many folks would take notice when they see a LeBron-less NBA, and we all know about the NBA's global connections.
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Old 01-16-2014, 04:34 PM
 
14,256 posts, read 26,937,981 times
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Quote:
Originally Posted by LINative View Post
Its funny, I think most Americans would rank Miami as a lesser city then the 3 great Southern cities; Atlanta, Houston and Dallas. I certainly know I would.

But I guess you have to consider that Miami is a big business hub for Latin America and the Caribbean.
It used to be that Miami was part of the "Big 4" Southern cities. It used to be Houston, Dallas, Atlanta, and Miami. Has Miami been kicked-out of that group? Is that group now a Big 3? I guess Miami has been knocked down a tier into the Tampa, Orlando, Charlotte tier of cities.
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