Fed: Dallas grew faster than the rest of the nation (Harlingen: houses, tax)

[binkyman]

Originally Posted by Johnhw2

I've read this a couple of times trying to figure out what you are claiming. If its Houston's economy is good because of Dallas then I do not agree. If its a lot of people fly back and forth between Dallas and Fort Worth I do agree. I've lived both places and find DFW residents mention Houston in one light or another much more often than Dallas is mentioned in Houston conversations. Both cities have good economies right now but I would give Houston's a slight nod in terms of strength in good paying jobs as well as in housing. Both Dallas and Houston are growing faster than the rest of the nation as the title of this thread mentions. Beyond that I do not see your point at all.

If you are saying Dallas is growing because Houston is and vice versa, I believe that is true to a degree but not the big driver in either cities growth.

I'm trying to emphasize the reason why having a diverse economy is important. As the economy of every city within the market of Dallas - Fort Worth continues to improve, so will the Dallas - Fort Worth market.

The fact that the Dallas - Fort Worth metropolitan area happens to be at the epicenter of a dynamic region didn't dawn on me until I stumbled across an article about both Oklahoma City and Austin and how they tend to compete in winning the designation of having the best economy in the nation.

I've always heard that people who live in East Texas are very hard working. So, you know the economy is going to be robust there. There area about a million people in East Texas. Then, as I've already pointed out, Shreveport is a little further east of that.

What about the economy of the Wichita Falls and Abilene region?

Abilene economy poised for modest growth through 2016, report says » Abilene Reporter-News

Here is Midland and Odessa.

Midland-Odessa economy continues full steam ahead - Mywesttexas.com: Top Stories

Amarillo:

Booming Amarillo economy forecasted for 2013 - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Lubbock:

Lubbock housing, retail sales push economic index to record high level | Lubbock Online | Lubbock Avalanche-Journal

Do you see a pattern here?

[BeenThereDunThat]

Originally Posted by Marv101

Huntsville, AL isn't that much larger than Shreveport according to the 2010 Census, but it recently replaced Cincinnati as the most expensive airport in the USA, so consequently you're not going to get a moderate airfare ot of Shreveport as opposed to the $260-$280 airfares available from DAL or DFW to LAX.

Just driving 60 miles west to Longview airport (GGG) you can often get airfare on American to DFW for what it would cost you twice as much out of Shreveport. It's no fluke either. Even with advance booking, you'll often pay 2X as much than just driving over either to Longview, TX ... unfortunately those flights sell out fast and you might as well drive to DFW or Love Field since it's only 3+ hours anyway and you'll still come out ahead.

[Johnhw2]

Originally Posted by binkyman

I'm trying to emphasize the reason why having a diverse economy is important. As the economy of every city within the market of Dallas - Fort Worth continues to improve, so will the Dallas - Fort Worth market.

The fact that the Dallas - Fort Worth metropolitan area happens to be at the epicenter of a dynamic region didn't dawn on me until I stumbled across an article about both Oklahoma City and Austin and how they tend to compete in winning the designation of having the best economy in the nation.

I've always heard that people who live in East Texas are very hard working. So, you know the economy is going to be robust there. There area about a million people in East Texas. Then, as I've already pointed out, Shreveport is a little further east of that.

What about the economy of the Wichita Falls and Abilene region?

Abilene economy poised for modest growth through 2016, report says » Abilene Reporter-News

Here is Midland and Odessa.

Midland-Odessa economy continues full steam ahead - Mywesttexas.com: Top Stories

Amarillo:

Booming Amarillo economy forecasted for 2013 - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Lubbock:

Lubbock housing, retail sales push economic index to record high level | Lubbock Online | Lubbock Avalanche-Journal

Do you see a pattern here?

I see several patterns here. Texas, Oklahoma and La/Ark have oil and gas and are not afraid to develop that resource. Also these states tend to be pro business and Texas which dominates this region is either the top or one of the top states for business. Your conclusion that DFW is driving or even significantly contributing to the growth in other cities makes no sense to me. DFW does benefit from the growth of these not to distant cities in the form of the airport example as well as others. Try to tell the people of Houston that DFW area has much if any to do with their growth and duck!

[binkyman]

Originally Posted by Johnhw2

I see several patterns here. Texas, Oklahoma and La/Ark have oil and gas and are not afraid to develop that resource. Also these states tend to be pro business and Texas which dominates this region is either the top or one of the top states for business. Your conclusion that DFW is driving or even significantly contributing to the growth in other cities makes no sense to me. DFW does benefit from the growth of these not to distant cities in the form of the airport example as well as others. Try to tell the people of Houston that DFW area has much if any to do with their growth and duck!

It isn't a matter of booming. Every place should boom on occasion. It is a matter of stability. It is the more diverse places, the ones that don't boom or bust too much, that tend to do better economically in the long run.

An interesting aspect about the Dallas - Fort Worth area was how it lost its designation as a major financial center during the oil depression of the mid eighties. It did so because every major bank was heavily invested in oil and gas and they went belly up causing them to be bought out by banks elsewhere. Yet, at the same time, a new industry was rising quickly in the area being based around what would become the Telecom corridor.

Yet, once again, the area is developing back into the major financial center of the southwest. It really is proof that Dallas isn't what it is because the Fed is based there, but that the Fed is based there because Dallas is what it is.

I posted mostly responding to a post that said retail in Houston is beating retail in Dallas.

For those who might not realize it, retail and wholesale are very serious and competitive businesses in Dallas. There really is no comparing the two markets. Sure, there will be times when the Houston area is building more stores, but Dallas is the one with the market center and the design districts.

Have your cake as in Houston is indeed the energy capital of the world and the location of the world's largest medical center with a huge sea port. But Dallas - Fort Worth is the one that is the high tech center of, the financial center of, and both the retail and wholesale capitals of, along with being the distribution center of the southwest. It also has a lot of companies based in the defense industry and other industries I'm not recollecting right now.

Oh! Dallas is also a booming energy town as well as I've already posted.

Houston booms and busts. Dallas, being the more diverse and stable of the two, tends to zoom and sputter. What is incredible about the Dallas - Fort Worth area is how well it continued matching up with Houston even during a severe national down cycle.

The last statement shows that the economy of Dallas - Fort Worth benefits and suffers symbiotically with all the cities located within its market.

[Lakewooder]

It was not oil which brought down Dallas banks - more real estate and lending based on projections that completely ignored what happened to Houston a couple of years prior.

[Marv101]

Houston & Dallas are both growing quickly, the 900,000 difference in population according to the 2010 US Census notwithstanding.

Both cities are very business-friendly, which explains the difference in population growth between Harris County/Houston during the previous decade (24.5%) as opposed to liberal dominated LA County (3.5%), while the growth rate for DFW during that same time (7.5%) is also solid.

Don't be surprised if Houston passes Chicago in population within the next 20+ years either; the Windy City lost over 200,000 citizens during the previous decade, a problem that no major Texas city has to worry about under any circumstances.

[dollaztx]

Originally Posted by Marv101

Both cities are very business-friendly, which explains the difference in population growth between Harris County/Houston during the previous decade (24.5%) as opposed to liberal dominated LA County (3.5%), while the growth rate for DFW during that same time (7.5%) is also solid.

The city of Dallas grew at .8%, DFW at 23.4%.

[SS 376]

Originally Posted by Marv101

Houston & Dallas are both growing quickly, the 900,000 difference in population according to the 2010 US Census notwithstanding.

Both cities are very business-friendly, which explains the difference in population growth between Harris County/Houston during the previous decade (24.5%) as opposed to liberal dominated LA County (3.5%), while the growth rate for DFW during that same time (7.5%) is also solid.

Don't be surprised if Houston passes Chicago in population within the next 20+ years either; the Windy City lost over 200,000 citizens during the previous decade, a problem that no major Texas city has to worry about under any circumstances.

There is a general population shift out of the Northeast and Rust Belt to the South, Texas, and Midwest. I believe I read somewhere, maybe even the LA Times, that LA County or the LA metro area was actually shrinking if you adjusted population figures for illegal immigration.

What's interesting about Chicago is that people of all demographic groups are generally fleeing the city. In LA, it's the middle and upper middle classes that are packing up and moving out. I suspect that LA will be a warm version of Detroit 10-15 years from now. There is a good chance Chicago follows suit too.

[TheOverdog]

I suspect that LA will be a warm version of Detroit 10-15 years from now. There is a good chance Chicago follows suit too.

Well, if we are dreaming, then I want a unicorn.

[SS 376]

Originally Posted by TheOverdog

Well, if we are dreaming, then I want a unicorn.

People in Detroit said the same thing 20 years ago. But feel free to explain why you disagree.