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Old 07-11-2017, 09:57 AM
Status: "Stop eating Tide pods and Bats" (set 4 days ago)
 
Location: New Albany, Indiana (Greater Louisville)
10,241 posts, read 21,732,196 times
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Headlight Data | Fastest Growing Large Metro Economies Of 2016 Are Grand Rapids, Orlando, Nashville; Slowest Are Oklahoma, Houston, New Orleans

Detroit metro's economy is now around the national average and is handily outgrowing places like NYC, Chicago, Philly, DC, etc and is lapping the worst metro areas like Pittsburgh, Cleveland, and Hartford. Fastest growing national metro with above 1 million residents is Grand Rapids MI.
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Old 07-11-2017, 05:22 PM
 
Location: Michigan
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Indianapolis, Columbus, and Kansas City are the only other Midwestern metros with faster growth rates, plus Grand Rapids of course. I'm actually somewhat surprised. I would have thought Minneapolis would have stayed faster.

Boston is going at the same rate as Detroit which is also surprising. But I'm curious as to why the rest of the East Coast is lagging behind. Has the COL put a cap on growth? Most of California's cities are still growing at decent clips even though I hear a lot about the high COL there. Or is it something else entirely?
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Old 07-12-2017, 11:13 AM
 
2,477 posts, read 1,770,596 times
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Quote:
Originally Posted by animatedmartian View Post
Indianapolis, Columbus, and Kansas City are the only other Midwestern metros with faster growth rates, plus Grand Rapids of course. I'm actually somewhat surprised. I would have thought Minneapolis would have stayed faster.

Boston is going at the same rate as Detroit which is also surprising. But I'm curious as to why the rest of the East Coast is lagging behind. Has the COL put a cap on growth? Most of California's cities are still growing at decent clips even though I hear a lot about the high COL there. Or is it something else entirely?
Most young people I know would choose West coast over East coast if everything is same. West coast has the "cool" factor right now. I would think that has something to do with growth even with high COL.
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Old 07-12-2017, 05:55 PM
 
Location: Michigan
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Originally Posted by keraT View Post
Most young people I know would choose West coast over East coast if everything is same. West coast has the "cool" factor right now. I would think that has something to do with growth even with high COL.
When you say "cool factor" it makes me think of Google and similar companies; open office space, big outdoor campuses, etc. And actually, I mentioned this to my relative the other day but I was looking up these billionaires and millionaires that work for companies like Facebook, Uber, and Google and like all of them dress super business casual or even just casual. Like if I saw pretty much any of these people on the street, I would never think they get paid as much as they do.

So yea, I could see how the West Coast is basically the 'new economy'.
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Old 07-14-2017, 12:23 AM
 
1,852 posts, read 2,299,897 times
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Quote:
Originally Posted by animatedmartian View Post
When you say "cool factor" it makes me think of Google and similar companies; open office space, big outdoor campuses, etc. And actually, I mentioned this to my relative the other day but I was looking up these billionaires and millionaires that work for companies like Facebook, Uber, and Google and like all of them dress super business casual or even just casual. Like if I saw pretty much any of these people on the street, I would never think they get paid as much as they do.

So yea, I could see how the West Coast is basically the 'new economy'.
The west coast has the generally warmer weather and the majestic mountains that so many people love to hike in.

Concerning our economy, I hope we have diversified enough because it looks like the auto industry may be starting to stall.
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Old 07-14-2017, 08:21 AM
 
Location: Michigan
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Originally Posted by usroute10 View Post
The west coast has the generally warmer weather and the majestic mountains that so many people love to hike in.

Concerning our economy, I hope we have diversified enough because it looks like the auto industry may be starting to stall.
Went to a Ford dealership last week and they want $35,000 for a Fusion. Totally not surprised that it might be stalling out. Wages aren't rising fast enough to prompt as many people to buy these expensive new cars.

But I'm not worried. The automakers will eventually start cutting prices and/or pull back on production to let the inventory shrink a bit, but it doesn't seem to me like a full fledged recession and no where near what it was like 10 years ago.

If Michigan/Metro Detroit lands Foxconn, will that be a sign of diversity? People are forever buying electronics so it would seem like that'd be a no brainier if Michigan to chase after electronic manufacturers.
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Old 07-14-2017, 08:22 AM
 
Location: Grosse Ile Michigan
27,776 posts, read 65,692,477 times
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Quote:
Originally Posted by usroute10 View Post
The west coast has the generally warmer weather and the majestic mountains that so many people love to hike in.

Concerning our economy, I hope we have diversified enough because it looks like the auto industry may be starting to stall.
Yup.

Notwithstanding Michigan is 40x prettier than Southern California, I sorely miss hiking int he foothills with a dog on weekends.
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Old 07-14-2017, 09:14 AM
 
2,173 posts, read 2,822,569 times
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Quote:
Originally Posted by animatedmartian View Post
Went to a Ford dealership last week and they want $35,000 for a Fusion. Totally not surprised that it might be stalling out. Wages aren't rising fast enough to prompt as many people to buy these expensive new cars.

But I'm not worried. The automakers will eventually start cutting prices and/or pull back on production to let the inventory shrink a bit, but it doesn't seem to me like a full fledged recession and no where near what it was like 10 years ago.

If Michigan/Metro Detroit lands Foxconn, will that be a sign of diversity? People are forever buying electronics so it would seem like that'd be a no brainier if Michigan to chase after electronic manufacturers.
It's plateauing after years of record sales. The industry is still on pace to sell 17 million vehicles -- I wouldn't consider that "stalling." We'll see a slowdown in hiring, but I'm not expecting mass layoffs anytime soon.

$35K for a Fusion? You must have let the salesman load that baby up with every available option. That's why I figure out exactly which option package I want (the base one) BEFORE I set foot in a dealership. And don't even try and sell me on the extended warrantly.
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Old 07-14-2017, 11:34 AM
 
Location: Detroit
3,671 posts, read 4,810,585 times
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This is actually pretty surprising that Detroit's economy is growing faster than the Bos-Was corridor, Houston, Chicago, and Minneapolis. I'm surprised to see Cleveland and Pittsburgh growing so slowly, I thought their metro area was booming now, as for Houston wow. That was one of the few booming cities in the great recession era, I remember people from Detroit, Chicago, NYC, and LA flocking there in droves and now all 4 of those cities have a faster growing economy than Houston right now.
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Old 07-14-2017, 01:41 PM
 
12,564 posts, read 7,624,034 times
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Originally Posted by MS313 View Post
This is actually pretty surprising that Detroit's economy is growing faster than the Bos-Was corridor, Houston, Chicago, and Minneapolis. I'm surprised to see Cleveland and Pittsburgh growing so slowly, I thought their metro area was booming now, as for Houston wow. That was one of the few booming cities in the great recession era, I remember people from Detroit, Chicago, NYC, and LA flocking there in droves and now all 4 of those cities have a faster growing economy than Houston right now.

Houston and Oil is like Detroit and Cars. As long as oil prices remain this low.....Houston and other Oil related cities are going to suffer.

I am surprised, like you, about Pittsburgh, but not so much the other places. The reason that Pittsburgh leaves me dumbfounded is that it sits in a gorgeous area, it has the density and walk-ability that so many millennials covet. Pittsburgh is always talked about as having shed its old economy and is now firmly a tech city.....plus, the University of Pittsburgh and of course....Carnegie Mellon university. Notwithstanding, it keeps sporting population loss (the whole metro) and anemic economic growth .

I am not that surprised about the growth of the Detroit economy.....given how far it went down. Despite all the growth, I am not sure if the area has yet to regain all the jobs lost from the last recession. I think if they ever get that Gordy Howe bridge project started.....its going to create a ton of construction jobs split between American and Canadian workers, along with the Hudson Block and other construction projects....should have solid job growth in the area....barring a nation slow down in the economy.
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