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The Feedback Loop of Doom: When Mobile Creatives and Capital Abandon Unaffordable, Dysfunctional Cities

4/25/2019

 
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When the 4% who generate the jobs and tax revenues have had enough and leave, the effects quickly impact the 64%.

At the end of any trend, everyone's a true believer: this trend is so enduring, so broad-based, so based on unchanging fundamentals that it will never ever reverse.

One such trend is the white-hot growth of housing, employment, tax revenues, etc. in major urban magnets for global capital and talent: you know the usual suspects: Dallas, Atlanta, Seattle, Portland OR, Denver, Los Angeles, the San Francisco Bay Area, New York City and so on.

What these urban regions offer are strong job markets, a very desirable dynamic.

For example, over 400,000 jobs have been added to the San Francisco Bay Area in the past few years, basically an entire new city of workers. Very few states have added 400,000 jobs in the past few years, and fewer still have added so many high-wage jobs.

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    Kevin Massengill is an entrepreneur, investor, and award winning Fortune 500 senior executive with a track record of massive business growth.

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