Tuesday, May 20, 2014

Geography of Income Equality and Gentrification

Thanks to the globalization of real estate markets, cities are unable to manage gentrification at Pacific Standard magazine.

Theme: Globalization and gentrification.

Subject Article: "Superstar Cities."

Postscript: Fun tool from Planet Money that allows for an apple-to-apples comparison between cities, taking "annual income for typical, full-time workers in different metro areas" and "adjusts that figure for the cost of living in each metro area". Plug in the Cleveland MSA and discover that the cost of living burden in Northeast Ohio feels like San Francisco. Also of note, Rochester, MN has the highest median wage after adjusting for cost of living. That's what tradable health care will generate.

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