Mon, 22 April 2019
Chicago and Philly are doomed.
Today’s guest, Peter Zeihan of Zeihan.com, tells us why.
U.S. housing will change with shifts in immigration. Future immigrants will have more skills than current immigrants.
Peter & I discuss city-by-city economic fortunes:
New York City - Top U.S. destination for capital. But capital is beginning to flow to secondary cities like Charleston, Dallas-Fort Worth, Denver. NYC is not business-friendly.
Philadelphia - Should be an economic powerhouse, but make poor business decisions. Not a world-class city. Will hollow out.
Washington, D.C. - Could face problems with contractions in government demand.
Cleveland, Pittsburgh - Both trending well with tech-based reinventions.
Chicago - Rife with deep economic problems. May take national emergency to save them.
Florida metros - Tampa, Orlando, Jacksonville areas will keep booming.
Memphis - Looks positive. Transportation center.
Texas metros - Business-friendly, thriving, decisions made at local level. Big regional differentials in property tax.
California - Most economically “unequal” state in U.S.
Seattle - What pushes up housing prices? Geographic isthmus, new business.
Hawaii - Real estate prices are high and resilient. Much of this is due to geography.
With NAFTA’s restructure, Texas and the Great Plains are poised to prosper.
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