Houston Becomes a World Class City

Joel Kotkin reports:

Over the past decade, Houston, Phoenix, and Dallas each have matched the employment growth of New York, Boston, San Francisco, and the Silicon Valley area combined. One of the most powerful weapons of opportunity cities in this contest is the growing divergence in costs between them and “superstar” cities. The latter clearly provide somewhat higher wages to professional, financial, and engineering workers. Yet for most people, the vast differences in the cost of living and real estate prices allows professionals working in Phoenix, Charlotte, or Houston to enjoy a considerably higher standard of living.

Another great one by Joel Kotkin.