After the recession will the sun belt boom continue? (house, construction)
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Not just Minneapolis, but there's also Columbus, Indianapolis, and Chicago. Chicago is still a very prominent city for our country's economy. It's to diverse to share the same fate as Detroit.
I can see Los Angeles collapsing before I see Chicago collapsing.
I won't bet on Chicago :/
But yeah for Indianapolis, and you can add Sioux Falls and Fargo !
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by RenaudFR
I won't bet on Chicago :/
But yeah for Indianapolis, and you can add Sioux Falls and Fargo !
I would've thought the same thing, but Chicago really has done wonders for itself. Especially for a Midwestern city.
The two biggest survivors in the Midwest are Chicago and Minneapolis.
Cleveland, Detroit, Cincinnati, Grand Rapids, and St. Louis have seen better days.
Indianapolis, Columbus, and Milwaukee are still growing.
Chicagoland had the 3rd highest GDP in the country and the second largest financial center in the country and 5th in the world. (Behind, NYC, Tokyo, Hong Kong, and Singapore only) lol.
But yeahhh I can see where you're going with this, it's economy isn't growing as fast as the sunbelt cities.
It's wrong, totally wrong.Texas and Virginia didn't cause the housing bubble (thanks cali, arizona, florida and nevada) and they've been extremly resilient during this crisis
States didn't cause it. I didn't know states could do things... It's the banks and developers from around the COUNTRY who gave loans and built houses in CA AZ FL and NV because of the high demand. You can't blame it on the states. People from around the US were moving to those states in droves getting loans by national banks. That's what caused it.
I would've thought the same thing, but Chicago really has done wonders for itself. Especially for a Midwestern city.
The two biggest survivors in the Midwest are Chicago and Minneapolis.
Cleveland, Detroit, Cincinnati, Grand Rapids, and St. Louis have seen better days.
Indianapolis, Columbus, and Milwaukee are still growing.
Chicagoland had the 3rd highest GDP in the country and the second largest financial center in the country and 5th in the world. (Behind, NYC, Tokyo, Hong Kong, and Singapore only) lol.
But yeahhh I can see where you're going with this, it's economy isn't growing as fast as the sunbelt cities.
I still don't see how St. Louis is anything like Detroit in trends. The city itself is better off or trending better than any point in the last 50 years. Most of the issues cited tend to be due to a city limits that are tiny and fixed.
I see the in terms of Sunbelt growth it is likely to shift towards places that haven't grown much yet while some places start stagnating or becoming not much different in patterns from California. I see any growth in the Midwest to be focused along the Southern and Western edges and not the Great Lakes core (Chicago being different due to immigrants though there is domestic emigration like the Northeast and California which it shares more in common with in migration patterns)
I would've thought the same thing, but Chicago really has done wonders for itself. Especially for a Midwestern city.
The two biggest survivors in the Midwest are Chicago and Minneapolis.
Cleveland, Detroit, Cincinnati, Grand Rapids, and St. Louis have seen better days.
Indianapolis, Columbus, and Milwaukee are still growing.
Chicagoland had the 3rd highest GDP in the country and the second largest financial center in the country and 5th in the world. (Behind, NYC, Tokyo, Hong Kong, and Singapore only) lol.
But yeahhh I can see where you're going with this, it's economy isn't growing as fast as the sunbelt cities.
Chicago's job market is awful. i just moved down to new orleans a few months back for its economy benefits. i was born and raised in chicago, but after a year of looking for employment there, i moved down to new orleans, where with the same effort, found a job in 2 months. don't move to chicago for a job unless you're packing some serious degree's, and even then, be cautious. plenty of my dad's friends of 40+ years of age, have ended up moving back in with their parents. new orleans economy, on the other hand, is great. non-stop job interviews left and right- i just wish i could say the same about the city itself.
States didn't cause it. I didn't know states could do things... It's the banks and developers from around the COUNTRY who gave loans and built houses in CA AZ FL and NV because of the high demand. You can't blame it on the states. People from around the US were moving to those states in droves getting loans by national banks. That's what caused it.
There are literally dozens of different contributors to the housing bubble and the resulting economic downfall. Home loan companies which loaned to unworthy borrowers, the borrowers themselves who took out money which they couldn't possibly pay back, wall street firms which purchased loans being held by the home loan companies who then packaged the loans and sold them back to the public, rating companies who ignored how risky these securitized loans were, etc. There's a never-ending list of people to point the finger at.
In terms of classical definition last fall, in jobs It can be argued now or within the last 90 days. Hard to tell when one starts or ends until a year later. This is of course overally and there may be pockets that will only tread water in the good times.
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