Now Occuring: Greatest Wealth Migration in Over 50 Years
The greatest wealth migration we have seen in over fifty years is now occurring.
Let's rewind to December 2008 when the recession was officially announced. Over the next five years, we experienced significant job loss, primarily in middle management. These layoffs were different because it was not just that the individuals job was lost, as a result of technological innovation, in many cases it was that the job no longer existed. It was automated.
Locally, in the Bay Area, we saw a tremendous number of startups, not only founded by the previously unemployed, but also by fresh college graduates.
Technological innovation that resulted in automating manual tasks...(read more)
Are you experiencing this in your markets?
Comments? Thoughts?