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.
Houston's economy isn't super diverse--not as much as Atlanta's--yet it has boomed and is booming big time. And even with a more diverse economy, Atlanta had the worst fallout of the recession compared to Houston, Charlotte, and Raleigh. In theory diversification sounds good but I think practically, too much may be made of it. The nature of a predominant industry is just as much of a factor and in light of that, Raleigh has what it takes to continue booming and even more so because the area universities and government offices aren't going anywhere.
Well, this last recession was unique and abnormally large. Generally, Atlanta is the first to recover from recessions.
Think about it. Right now, job growth across the country has significantly dropped from the year before, yet Atlanta is showing massive job increases, higher % than Dallas and Houston now. Assuming we go under another recession in a year or two, Atlanta will probably be doing well other cities fall off a bit like Houston is now. That's the power of a diverse economy.
The United States will probably slip into a recession within the next two years.
Don't wish for that to happen but get the feeling that is where it is going. The recession prior was caused by fiscal irresponsibility, that is what it came down to. A lot of the booms taking place right now aren't actually off substantive values but once again off of the "get rich" campaign drawn by the housing markets and landlords. Eventually the bubble will blow up to an unsustainable point and then go burst.
The multifamily market/apartment market is a new threat, while more stringent standards apply now than pre-2008 to get qualifications and background checks, they are not stringent enough to save an industry from ballooning. Banks will be devastated again and that is the root to these sort of recessions.
There is definitely a noticeable slowdown on the horizon.
The United States will probably slip into a recession within the next two years.
Don't wish for that to happen but get the feeling that is where it is going. The recession prior was caused by fiscal irresponsibility, that is what it came down to. A lot of the booms taking place right now aren't actually off substantive values but once again off of the "get rich" campaign drawn by the housing markets and landlords. Eventually the bubble will blow up to an unsustainable point and then go burst.
The multifamily market/apartment market is a new threat, while more stringent standards apply now than pre-2008 to get qualifications and background checks, they are not stringent enough to save an industry from ballooning. Banks will be devastated again and that is the root to these sort of recessions.
There is definitely a noticeable slowdown on the horizon.
They always say...gas price drops are the best indicators of an upcoming recession. If Houston falls, eventually we all fall, or most of us anyway. If I can recall, Atlanta was still doing excellent in the early 2000s recession. I'm hoping it's the same case for this next one.
But yes, too many cities are overbuilding, especially ones that don't have spectacular job growth, population growth, a booming Tech industry.
For all that is good and holy please do not turn this thread into yet another inane Atlanta vs. Houston thread. Please just stick to the topic or this thread will need to be closed.
---
its - possession
it's - contraction of it is
your - possession
you're - contraction of you are
their - possession
they're - contraction of they are
there - referring to a place
loose - opposite of tight
lose - opposite of win
who's - contraction of who is
whose - possession
alot - NOT A WORD
That's fine. Everyone keeps expecting to Charlotte to stall out and I love it.
Charlotte isn't cool and it probably never will be. But I like that. There aren't a bunch of try-hard hipsters floating around Charlotte like I've experienced in the likes of Raleigh or Denver or any of the other "it" cities of the moment. Jeans and t-shirt? Cool, have a beer.
Charlotte is just going to keep quietly chugging along as it has been for nearly 20-30 years now, growing like crazy and trying it's best to deal with that growth. Oddly, I've grown to like that Charlotte has no identity. It's just kind of a city, with people living it. And good beer.
My thoughts are there are more people in Charlotte that like it as it is than there are people that want growth at any cost. It should keep on being a nice place to be for some time. It also seems like a southern version of Columbus, OH. Bigger than a lot of cities, but nobody seems to know about it and it sometimes gets lost in the shuffle.
Off this list, Raleigh and Nashville clearly come in ahead. Richmond would come in behind those two, and I guess Jacksonville would come in behind Richmond. The others, I really don't know, but I know cities like Birmingham and Memphis have no business being grouped in with Nashville, Raleigh, Charlotte, Atlanta, etc. Those two are still seen as the few "Old South" metros that haven't jumped on the "New South" bandwagon, along with others like Montgomery, Jackson, Mobile, and maybe Little Rock.
Atlanta competes with Dallas, TX and not these other cities.
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 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.
The point is Houston and Atlanta are in the same tier.Charlotte is not even close.
