Side Pocket Topics
Being fascinated by (some) demographic info there's a few new 'releases' worth noting.
Leaving Denver? Here are the top destinations for transplants from the Mile High City
Feb 19, 2021 Rob Powell - Stacker via KDVR31
The top four destinations are within the state.
- 1. Colorado Springs - 2. Boulder - 3. Greeley - 4. Fort Collins - 12. Grand Junction
Top Fifteen out-of-state destinations:
- 5. Phoenix - 6. Seattle - 7. Los Angeles - 8. Houston - 9. Dallas
- 10. Washington DC - 11. Las Vegas - 13. Chicago - 15. San Diego - 16. New York
- 17. Austin - 18. Tampa - 19. San Francisco - 20. Minneapolis - 21. Kansas City
Job migration and the continuing exodus out of California
Note: This was posted in the Austin Business Journal but it's worth looking at the bigger picture so I've selectively edited
https://www.bizjournals.com/austin/n...ow-strong.html
Quote:
Research presented by the Bay Area Council Economic Institute shows Central Texas and several other cities are welcoming key white-collar jobs at a notable pace while cities such as San Francisco wave good-bye to them by the thousands. “We had been digging for some time for evidence of this shift from high-priced metro areas to what we’re calling ‘new tech hubs.’
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2020 data shows:
Quote:
... when it comes to the growth of information, finance and professional services jobs... according to the Economic Institute, based on data from the U.S. Bureau of Labor Statistics.
Following Austin, Boise saw job growth for those sectors of 2.9%; Dallas, 2.8%; Seattle, 2.3%; Denver, 1.7%; Nashville, 1.2%; San Diego, 0.8%; and Sacramento, 0.1%.
Both San Francisco and San Jose saw jobs decline 2.6% in the information, finance and professional services sectors. At the bottom of the list were Chicago, down 3.9%; Los Angeles, down 6.2% and New York in last place with a 7% decline.
One surprise in the chart was the rather poor showing by Salt Lake City and Miami, two cities that have grabbed national headlines for their success in attracting companies to move or expand in their regions. Miami saw a 2.7% decline in the number of jobs in information, finance and professional services while Salt Lake City saw a 3.9% decline.
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Some people tend to hyperventilate over this stuff but the Bay Area has long been an incubator for the rest of the country. Plus, California did have record tax revenue last year.
How's 'peer city' Seattle doing?
Seattle's core apartment market is 'brutal' for landlords
Feb 16, 2021 By Marc Stiles – Senior Staff Writer, Puget Sound Business Journal
Quote:
Net demand for apartments in Seattle and Shoreline tumbled in 2020 by nearly 7,900 units, according to new data... Unlike a dozen years ago, when the recession tamped down the supply of new units, King and Snohomish counties have a total of 20,000 new units coming this year and next. These are units in lease up or under construction, not proposed...
Year over year in September, rents declined 9.5% in Seattle and Shoreline. For landlords, it's especially bleak in the the core of the city — downtown, Capitol Hill and Pioneer Square. "Rents are down by about 15% in the core, and then they're offering two months' free rent. That's another 17%, so call it 30%. It's brutal what's going on," O'Connor said.
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I also read where Boeing is downsizing their Washington footprint but there's apparently instant demand for taking over their real estate.
Good news for the future of our country
https://www.bizjournals.com/austin/n...for-plant.html
Quote:
Samsung is reportedly looking to make an investment of up to $17 billion in its next U.S. facility, with eyes on Austin, Phoenix and upstate New York as possible sites, according to national news reports.
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With automation continuing I'd expect to see manufacturing or fabrication growing within our borders. Access to lower cost power is one key along with a need for fewer workers.
The Bad News for Texas
is that they've haven't yet figured out how to run a reliable electrical grid.
CNN does the fact-checking.