“Los Angeles Is Having a Loud Economic Boom”
April 9, 2019
“L.A.’s gross domestic product per capita surged 11.8 percent the past five years, dwarfing Chicago’s 7.4 percent, almost three times New York’s 4.1 percent and twice the average for 383 U.S. metropolitan areas, Bloomberg data show. Some of the gain is attributed to population growth of 2.5 percent as New York grew 2.1 percent and Chicago declined 0.2 percent.
During the five-year period, home values in Los Angeles increased 49 percent, easily surpassing the U.S. average of 28 percent and more than double New York’s 17 percent and Chicago’s 14 percent. L.A. also has a near impregnable share of U.S. shipping, with the ports of Los Angeles and Long Beach, representing 35 percent of the market compared to No. 2 Newark-New York, at 17 percent, or No. 3 Savannah, 8 percent…”
https://www.bloomberg.com/opinion/articles/2019-04-05/los-angeles-economic-boom-outpaces-u-s-cities