The Metro Areas With The Most Economic Momentum Going Into 2014

Appearing in:

Forbes

America’s economy may be picking up steam, but it remains a story of parts, with the various regions of the country performing in often radically divergent ways.

To identify the regions with the most momentum coming out of the recession, we turned to Mark Schill, research director for the Praxis Strategy Group, who crunched a range of indicative data from 2007 to today for the nation’s 52 largest metropolitan statistical areas. To gauge economic vitality, we used four metrics: GDP growth, job growth, real median household income growth and current unemployment. To measure demographic strength we looked at population growth, birth rate, domestic migration and the change in educational attainment. All factors were weighted equally. Read more

Downsizing the American Dream

Appearing in:

Orange County Register

At this time of year, with Thanksgiving, Hanukkah and Christmas, there’s a tendency to look back at our lives and those of our families. We should be thankful for the blessings of living in an America where small dreams could be fulfilled.

For many, this promise has been epitomized by owning a house, with a touch of green in the back and a taste of private paradise. Those most grateful for this opportunity were my mother’s generation, which grew up in the Great Depression. In her life, she was able to make the move from the tenements of Brownsville, Brooklyn, first to the garden apartments of Coney Island and Sheepshead Bay, and, eventually, to a mass-produced suburban house on Long Island.

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Where Working-Age Americans Are Moving

Appearing in:

Forbes

Barrels of ink and money have been devoted to predictions of where Americans will migrate, particularly younger ones. If you listen to big developer front groups such as the Urban Land Institute or pundits like Richard Florida, you would believe that smart companies that want to improve their chances of cadging skilled workers should head to such places as downtown Chicago, Manhattan and San Francisco, leaving their suburban office parks deserted like relics of a bygone era.

A close look at recent migration data shows that a significant number of younger people do indeed prefer urban life and can endure, temporarily at least, the high housing costs that go with it. However, the data also show that as they age, Americans continue, in general, to shift to suburbs, and later smaller communities, looking to buy homes and start families. Read more

The Geography Of Aging: Why Millennials Are Headed To The Suburbs

Appearing in:

Forbes

One supposed trend, much celebrated in the media, is that younger people are moving back to the city, and plan to stay there for the rest of their lives. Retirees are reportedly following suit.

Urban theorists such as Peter Katz have maintained that millennials (the generation born after 1983) show little interest in “returning to the cul-de-sacs of their teenage years.” Manhattanite Leigh Gallagher, author of the dismally predictable book The Death of Suburbs, asserts with certitude that “millennials hate the suburbs” and prefer more eco-friendly, singleton-dominated urban environments.

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Silicon Valley is No Model for America

Appearing in:

Orange County Register

Its image further enhanced by the recent IPO of Twitter, Silicon Valley now stands in many minds as the cutting edge of the American future. Some, on both right and left, believe that the Valley’s geeks should reform the nation, and the government, in their image.

Increasingly, the basic meme out of the Valley, and its boosters, is that, as one venture capitalist put it: “We need to run the experiment, to show what a society run by Silicon Valley looks like.” The rest of the country, that venture capitalist, Chamath Palihapitiya, recently argued, needs to recognize that “it’s becoming excruciatingly, obviously clear to everyone else, that where value is created is no longer in New York, it’s no longer in Washington, it’s no longer in L.A. It’s in San Francisco and the Bay Area.” Read more

The Revolt Against Urban Gentry

Appearing in:

The Daily Beast

The imminent departure of New York’s Mayor Michael Bloomberg, and his replacement by leftist Bill DeBlasio, represents an urban uprising against the Bloombergian “luxury city” and the growing income inequality it represents. Bloomberg epitomized an approach that sought to cater to the rich—most prominently Wall Street—as a means to both finance development growth and collect enough shekels to pay for services needed by the poor.

This approach to urbanism draws some of its inspiration from the likes of Richard Florida, whose “creative class” theories posit the brightest future for “spiky” high cost cities like New York. But even Florida now admits that what he calls “America’s new economic geography” provides “ little in the way of trickle-down benefits” to the middle and working classes. Read more

Are Millennials Turning Their Backs on the American Dream?

Appearing in:

The Daily Beast

In his classic 1893 essay, “The Significance of the Frontier in American History,” historian Frederick Jackson Turner spoke of “the expansive character of American life.” Even though the frontier was closing, Turner argued, the fundamental nature of Americans was still defined by their incessant probing for “a new field of opportunity.” Turner’s claim held true for at least a century—during that time, the American spirit generated relentless technological improvement, the gradual creation of a mass middle class, and the integration of ever more diverse immigrants into the national narrative.

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Where Are The Boomers Headed? Not Back To The City

Appearing in:

Forbes

Perhaps no urban legend has played as long and loudly as the notion that “empty nesters” are abandoning their dull lives in the suburbs for the excitement of inner city living. This meme has been most recently celebrated in the Washington Post and the Wall Street Journal.

Both stories, citing research by the real estate brokerage Redfin, maintained that over the last decade a net 1 million boomers (born born between 1945 and 1964) have moved into the city core from the surrounding area. “Aging boomers,” the Post gushed, now “opt for the city life.” It’s enough to warm the cockles of a downtown realestate speculator’s heart, and perhaps nudge some subsidies from city officials anxious to secure their downtown dreams.

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Democratic “Upstairs-Downstairs” Coalition at Risk

Appearing in:

Orange County Register

Michael Bloomberg’s passing from New York City Hall, and his likely replacement as mayor by a fire-breathing populist Democrat, Bill de Blasio, marks a historic shift, not just in urban politics but, potentially, also national politics. For 20 years, under first Rudy Giuliani and then Bloomberg, New Yorkers accepted a form of “trickle down economics” where Wall Street riches flowed into city coffers and kept Gotham, at least on the surface, humming and solvent. Read more

America’s Fastest-Growing Counties: The ‘Burbs Are Back

Appearing in:

Forbes

For nearly a half century, the death of suburbs and exurbs has been prophesied by pundits, urban real-estate interests and their media allies, and they ratcheted up the volume after the housing crash of 2007. The urban periphery was destined to become “the next slums,” Christopher Leinberger wrote in The Atlantic in 2008, while a recent book by Fortune’s Leigh Gallagher, The End of Suburbsclaimed that suburbs and exurbs were on the verge of extinction as people flocked back to dense cities such as New York.

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