Dec 12, 2019: Metro Area and County GDP Released; Bay Area Surpasses $1T

[iheartthed]

Originally Posted by dimondpark

This decade has seen growth almost across the board among MSAs with GDP $50B or greater. New Orleans is the slight exception.

2010-2018 GDP Growth by MSA
(by percent)
+92.06% San Jose
+72.26% San Francisco

Stunning growth rates.

[dimondpark]

Originally Posted by iheartthed

Stunning growth rates.

Yet even during the recession, we didnt have anywhere near the level of homelessness we're seeing now. Im not sure if there's even a correlation but that's the first thing that popped into my mind, this embarrassment of riches isnt really improving QOL.

[TexasPlaya]

Originally Posted by Docta_Love

This is all true but you can't forget the series of multibillion dollar disasters striking the area over the past several years. Houston got absolutely hammered by hurricane Harvey not to mention a series of tropical storms causing similar or in some cases worse massive property damage due to flooding. With the refining industry clustered along the coast & coastal waterways this most important sector of the economy was hit especially hard.

No doubt, but storms/hurricanes didn’t hurt the refining ability for any significant time but destroyed a lot of people’s properties and cars.

[jd3189]

Originally Posted by dimondpark

Yet even during the recession, we didnt have anywhere near the level of homelessness we're seeing now. Im not sure if there's even a correlation but that's the first thing that popped into my mind, this embarrassment of riches isnt really improving QOL.

It’s interesting. Not saying the wealth has to be forcely redirected to help the homeless, but this disparity is similar to what you would find in the third world and, unlike the latter, I can’t think of any huge excuse why these conditions should continue to exist. The Bay Area and California in general should not only be prosperous but also still a place that can take care of its poor.

[LosAngelesSportsFan]

Originally Posted by jd3189

It’s interesting. Not saying the wealth has to be forcely redirected to help the homeless, but this disparity is similar to what you would find in the third world and, unlike the latter, I can’t think of any huge excuse why these conditions should continue to exist. The Bay Area and California in general should not only be prosperous but also still a place that can take care of its poor.

The problem is that its not just our poor. Every state and city is dumping and sending their bums to California. We see new arrivals daily.

[Docta_Love]

Originally Posted by TexasPlaya

No doubt, but storms/hurricanes didn’t hurt the refining ability for any significant time but destroyed a lot of people’s properties and cars.

It would make sense that the impacts weren't long term with the refining industry as long as the plants weren't smashed up by a massive storm surge requiring a complete rebuild. Obviously this didn't happen just some level of inundation took place I don't know what kind of damage would be done by salt water flooding to the complex but seemingly very sturdy facilities beyond any electronic components being shorted. I was thinking that the rebuild & retrofit process would have been costly clipping earnings however I know that the only lasting effect has been a somewhat significant slowdown to the realestate market not anything that Houston can't handle after years of booming growth but from what I heard some short term pain.

[urban_encounter]

Originally Posted by LA21st

Again, if California didn't show gains, this forum would be saying, "We told you! It's a horrible tax state!"

We are a horrible tax state and we do seemingly exist with dual economies. We have a coastal economy and an interior economy, where unemployment in most of California’s interior valley always trends much higher than on the coast.

Southern California politicians band together as do Bay Area politicians to carve up budgets that directly affect their regions. Sacramento has been trying to work with Bay Area legislators but for the rest of California it’s mostly scraps of leftovers.

But there’s no denying the fact that there’s two different realities of California that exist simultaneously.