U.S. housing will change with shifts in immigration. Future immigrants will have more skills than current immigrants.
Today’s guest, Peter Zeihan of Zeihan.com, tells us why.
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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