The thing about states like New York and California is the the fringes rot while everything is great in the core. The areas that are doing gangbuster business may be healthy at the moment, but other areas are dying.
I don’t know California well, but I know New York, and that upstate and western NY have been in free fall for years with some exceptions. Industry left in the 80s… cities like Syracuse are husks. Agriculture has been in decline for a long time and dairy, once the strongest ag industry, is in a death spiral as industry consolidation and subsidized fake products take over. Even NYC is not as resilient as it was… financial services pay the bills much more so than in the past.
California is obviously different, but I can’t imagine there aren’t parallels. Once the bell-weather tech giants start diversifying their physical locations that’s going to have a real impact.
All the tech giants have had locations in lots of other cities for many years now. Yet it hasn't seemed to affect their main California locations as of yet.
The thing about states like New York and California is the the fringes rot while everything is great in the core. The areas that are doing gangbuster business may be healthy at the moment, but other areas are dying.
I don’t know California well, but I know New York, and that upstate and western NY have been in free fall for years with some exceptions. Industry left in the 80s… cities like Syracuse are husks. Agriculture has been in decline for a long time and dairy, once the strongest ag industry, is in a death spiral as industry consolidation and subsidized fake products take over. Even NYC is not as resilient as it was… financial services pay the bills much more so than in the past.
California is obviously different, but I can’t imagine there aren’t parallels. Once the bell-weather tech giants start diversifying their physical locations that’s going to have a real impact.