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Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,034,220 times
Reputation: 4047
Quote:
Originally Posted by GraniteStater
Why would that be?
Texas cities that are experiencing booms like San Antonio, Austin, Dallas (I-35 East), Fort Worth (I-35 West), and good economy goes all the way up to Minneapolis (I-35 West), Saint Paul (I-35 East).
My reaction was similar, but for everything above 5% unemployment rate.
That's terrible how so many people are unemployed, families in pain, my sympathy goes out to all states with high unemployment. Especially Nevada and Michigan, I don't think early 1900's anyone in Detroit saw it coming, and late 1900's anyone in Las Vegas saw it coming either...
Harshhhhhh.
Cities like Detroit, Orlando and Las Vegas never learned from the Pittsburgh experience during the 1980's. People lambasted Pittsburgh's economy for being a one-trick pony, and deservedly so, but Detroit was lulled into a false sense of security by the resurgence of the domestic auto industry during the 1990's, and the economies of Orlando and Las Vegas were fundamentally poor, relying too much on tourism and pyramid schemes. But hey, they didn't make steel, so why worry?
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,034,220 times
Reputation: 4047
Quote:
Originally Posted by Gnutella
Cities like Detroit, Orlando and Las Vegas never learned from the Pittsburgh experience during the 1980's. People lambasted Pittsburgh's economy for being a one-trick pony, and deservedly so, but Detroit was lulled into a false sense of security by the resurgence of the domestic auto industry during the 1990's, and the economies of Orlando and Las Vegas were fundamentally poor, relying too much on tourism and pyramid schemes. But hey, they didn't make steel, so why worry?
Then came 2007 and 2008. Kablam!
One industry economies are death. (some cities just make it longer than others) Houston nearly suffered the same fate as Detroit in 1980's, especially 1986, when it's economy looked like it was through... but has since learned to diversify it's economy. 85% based off of oil & gas in 1986, to 43% today in energy meaning oil, gas, and green energy.
Las Vegas has to try and make a turn around if it doesn't and waits to long, it's doomed. Orlando already is (medical), so that's good news there.
One industry economies are death. (some cities just make it longer than others) Houston nearly suffered the same fate as Detroit in 1980's, especially 1986, when it's economy looked like it was through... but has since learned to diversify it's economy. 85% based off of oil & gas in 1986, to 43% today in energy meaning oil, gas, and green energy.
Las Vegas has to try and make a turn around if it doesn't and waits to long, it's doomed. Orlando already is (medical), so that's good news there.
Tourists will come back, I'm not worry about Las Vegas, this city will recover and will boom again with immigrants and cali transplants.Maybe 2012 or 2013 !
Cities like Detroit, Orlando and Las Vegas never learned from the Pittsburgh experience during the 1980's. People lambasted Pittsburgh's economy for being a one-trick pony, and deservedly so, but Detroit was lulled into a false sense of security by the resurgence of the domestic auto industry during the 1990's, and the economies of Orlando and Las Vegas were fundamentally poor, relying too much on tourism and pyramid schemes. But hey, they didn't make steel, so why worry?
Then came 2007 and 2008. Kablam!
Orlando does know that they rely way too much on tourism thats why they are trying so hard to diversify its economy (and it has already and is still getting results). Orlando is a major high tech area, and its biotech/medical industry is booming as we speak. Also with the wizarding world of harry potter that just opened, Orlando's tourism industry is getting a nice booster shot.
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