Regional Economic News
America’s Lopsided Economy: Tech Edition
Tech jobs remain in the same big eight tech hubs, despite the high cost of living and labor in those cities. Outside of those eight metros – Boulder, San Diego and Provo-Orem, UT – have tech job mixes similar to Silicon Valley making them cousins of Silicon Valley because of the kind of tech jobs that can be found in these cities. This article provides an overview of the ups and downs of major tech hubs and the jobs that set tech hubs apart based on data gathered from indeed.com.
2017 Best Places to Flip Houses
If you’re considering flipping your house, take a look at this study that identified the best cities in the country for house flipping. This study considers three main components: market potential; renovation and remodeling costs; and quality of life. Three Colorado cities made the list: Colorado Springs (#17), Denver (#38), and Aurora (#46). El Paso, Texas has the highest overall score for house flipping potential.
Wage Growth in Denver
Denver tied with San Diego and Austin for a 3.5% wage growth in the second quarter. This is the eighth consecutive quarter of wage growth in the U.S. Despite the positive wage growth, real wages are 7.5% lower than they were in 2006. The top job category to have seen wage growth over 3% has been the food service and restaurant industry at 3.6%.
Farm Lending Steady, But Risk Remains
The volume of farm lending has remained steady through the second quarter of 2017. Persistent declines in farm income have likely slowed the new non-real estate loans as bankers and borrowers manage risk. Farmland values continue to decline in places like the Mountain states, South Dakota and Kansas. However, despite the upward trend of farm loan delinquency rates, performance of agricultural banks has remained steady, with the rate of return on assets slightly above 1.1 percent.