A morning roundup of the day’s news.
The cities left behind: While the nation as a whole has bounced back heartily from the Great Recession, the recovery among cities has been wildly uneven, with only a select handful of cities flourishing over the past decade. Experts speaking with The Associated Press cite three big reasons: high-tech jobs, ballooning housing costs, and the loss of industries and job markets from the recession. More on the findings:
Among the nation's 100 largest metro areas, San Francisco experienced the biggest gain in median household income in the decade since the recession began. San Jose, which is part of Silicon Valley, enjoyed the second-largest increase, at 12.7 percent, followed by Austin, Texas, with 8.8 percent.
By comparison, median household income in the 100 largest metro areas actually fell 2.7 percent, on average. And the income gap between the 10 richest and 10 poorest metro areas has widened in the past decade, Moody's data shows.
The divergence between the richest and poorest U.S. cities predates the Great Recession. But it is historically unusual. For a period of 100 years ending in the 1980s, income gaps between richer and poorer cities narrowed steadily.
Musk’s transit distaste: Does a transit builder actually have to love the concept of public transportation? In Elon Musk’s case, the answer seems to be no, based on the Hyperloop visionary’s comments last week criticizing public transit as a giant “pain in the ass.” (Wired)
Where Millennials have peaked: Analyzing Census data since 2016, Time judges which U.S. cities are hitting “peak Millennial,” finding that New York and D.C. are close, while Los Angeles, Chicago, and Boston are already there—as tech hubs like San Francisco and Seattle continue luring young people.
Time to pay up? Real estate moguls got rich from investments along New York City’s subway lines. Now that the system is a “multistory mess,” does it make sense for them to start paying to fix it? (New York Times)
What Ben Carson is missing: Yes, the HUD chief is correct that “throwing more money” at the homelessness problem won’t fix it, says a Washington Post column. But thankfully, there’s no need to throw blindly due to “years of careful, evidence-based policymaking” on what works.
The urban lens:
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