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Old Posted Sep 19, 2020, 12:17 PM
marothisu marothisu is offline
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Join Date: Dec 2012
Location: Chicago
Posts: 6,931
It's not my data, it's the US Census data

This trend is anything but new. If you have paid attention to the Census data I've posted for a handful of years, this is the same story pretty much every year. At least since Rahm first became mayor.

Chicago including many suburbs has been expanding the tax base essentially by replacing low and middle earners by upper middle and upper earners. When i looked last year at the data, I found that Chicago was one of the only cities in America increasing $100K or $125K+ earners (forget which one) but decreasing anything below it. The other cities in the same boat? Hyper gentrification mainstay cities such as NYC, DC, SF, San Jose, etc.

There is a lot going on in Chicago for many years now in this way. Anyone who looks at the overall population number and doesn't even attempt to look like at the underlying data to see if anything else is going on (especially given the GDP still growing in a certain way) is a complete and utter beginner at economics.

Also, Miami for years has been a hotbed for rich people either parking their money in a condo or coming down a month or 2 per year. Its not much different than a variety of buildings in places like Manhattan. Only places like Manhattan and Chicago have a lot more people not moving there for retirement types of purposes.
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