It certainly seems as if boomers are in charge in America now, with Donald Trump about to move into the White House and members of the generation in the majority in Congress. Meanwhile, huge attention has been paid over the past few years to the emergence of the boomers’ children, the millennials, on the national scene. But relatively little thought has been accorded to the group sandwiched between the two mega-generations: Generation X. read more »
New data from the Census indicates that population growth and domestic migration patterns have continued to move away from the East and the Midwest to the South and West, at accelerated rates. Equally important, pre-Great Recession interstate mobility rates have been restored. read more »
The news media was flattened on November 8th, but its recovery has already started.
One of the striking features in all the commentary on Facebook about Donald Trump's victory is the number of times that the words I, me and my appeared in member posts. For example, "I am proud", "I am optimistic", or "I am fearful", "I am worried", etc. The comments celebrating or lamenting the event were mostly about the way the writer felt about the event, not about the event itself. That looks like a subtle difference but it reveals a demarcating line between an introverted reaction vs. an extroverted one. read more »
Defenders of California’s status-quo claim to be proud of California’s economic growth and worry about what Trump will do to that growth. If you are so impolite as to mention that this has been California’s slowest recovery in 70 years, as the following chart shows, you will be told that slow growth is good. It avoids the excesses of previous business cycles. read more »
Back in 2008 or 2009 I gave a Pecha Kucha presentation in Indianapolis in which I said:
"Cities can’t survive on gentrification alone. The broad community has to be a participant in its success. That’s why I’m somewhat down on the notion of the creative class. It’s good as far as it goes, but it’s a self-consciously elitist vision. Where’s the working class in that? read more »
Houston is a city (metropolitan area) of superlatives. The most recent Brookings Institution data shows that Houston has the seventh strongest per capita economy (gross domestic product) in the world (Figure 1). This places Houston above New York and more surprisingly, perhaps, other cities perceived to have strong economies are far below Houston and outside of the top 10, such as London, Tokyo and Chicago. read more »
The oligarchs’ ball at Trump Tower revealed one not-so-well-kept secret about the tech moguls: They are more like the new president than they are like you or me.
In what devolved into something of a love fest, Trump embraced the tech elite for their “incredible innovation” and pledged to help them achieve their goals—one of which, of course, is to become even richer. And for all their proud talk about “disruption,” they also know that they will have to accommodate, to some extent, our newly elected disrupter in chief for at least the next four years. read more »
Now and again Australia erupts in controversy about housing affordability. Each time it follows the same course. Some new statistic or media story confirms that prices are out of control. A senior politician is prompted to call for deregulation and more supply, and is backed-up by the property industry. Then come progressive policy wonks saying no, the issue is high investor demand stimulated by tax concessions. Next emerge the welfare lobby, calling for tax reform as well as more social housing and “inclusionary zoning”. read more »
From its inception, the American experiment has been dogged by racial issues. Sadly, this was even truer this year. Eight years after electing the first African-American president, not only are race relations getting worse, according to surveys, but the electorate remains as ethnically divided as in any time of recent history. read more »
A new economic corridor is emerging in the center of Texas. Hays and Comal Counties are part of the Austin and San Antonio metropolitan areas respectively. But they are not merely suburbs capturing overflow from larger cities. They are becoming part and parcel of an emerging 80-mile long economic corridor between San Antonio and Austin, along the I-35. In the process, this region centered around San Marcos and Hays County, is emerging as a hub in its own right. read more »