4 ms·
It really doesn’t. These cities already exist and are depopulating. It would be inefficient to not use these already existing metropolises, many of which were b
by notfromhere 7y ago
It really doesn’t. These cities already exist and are depopulating. It would be inefficient to not use these already existing metropolises, many of which were built pre-mass transit and are actually more energy efficient than the post-ww2 boomtowns.
Up until the 1980s, the variation in earnings and cost of living was around 20%. Meaning someone in rural Missouri could earn on average roughly 80% of a New Yorkers average wage. That wage premium has now skyrocketed, as has housing.
Allowing capital to concentrate in so few cities is why we have a few high performing metros and a ton of depopulated ones. And why we have Bay Area residents bidding six to seven figures for SFHs that would be condemned elsewhere.
- mcguire 7y agoOverall, I agree with your assessment, but the median household income in NYC is $57k; in Missouri, it's $53k. I don't have access to a breakdown now, but I would guess the difference is < 50%.
- pchristensen 7y agoIt sounds like you get it, but comparing a city to a state is misleading, especially for cities with a huge metro area that contains a lot of the prosperity. St. Louis County's median income is $35k (61% of NYC avg), and Jackson County (main part of Kansas City) is $26k (46% of NYC). The county median incomes NYC counties: Manhattan (New York County) is $67k, Brooklyn (Kings) is $25k, Queens is $26k, Bronx is $18k, and Staten Island (Richmond County) is $32k. https://en.wikipedia.org/wiki/List_of_United_States_counties_by_per_capita_income https://en.wikipedia.org/wiki/List_of_United_States_counties...