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ยป VISIT US ONLINE @ DSNEWS.COM 17 THE IMPACT OF POPULATION GROWTH While some metro areas have fallen on hard economic times, others are thriving, according to a recent report from WalletHub. In a study on the fastest-growing cities in America, WalletHub identified the top 15 cities by population growth in 2017 and examined what patterns these cities exhibit that make them so attractive. Eight of the top 15 cities were located in the South, many of them in Texas. WalletHub's number-one spot was Fort Myers, Florida, a small city with the highest growth by percentage. Frisco, Texas, had the highest growth in real numbers, while Austin, Texas, was the fastest- growing large city. Frisco also boasted the highest job-growth rate in the country. By GDP, California cities took the top spot. e top six cities with the highest regional GDP growth were all located in California, including San Jose, Sunny vale, and Santa Clara. According to the panel of experts assembled by WalletHub, one of the main points to consider in a fast-growing city was how to manage the growth and accommodate citizens, such as through housing and job opportunities. "Growth creates a double-edged sword: increased economic prosperity, jobs, incomes, activities, and opportunities but with increased property values and costs: entertainment, travel (congestion), higher taxes and fees," said James P. Gaines, Chief Economist, Real Estate Center at Texas A& M University. "ere is simply no guarantee that growth will not stimulate the demand for housing (and other activities). Some areas may experience population growth, for example, without creating the necessary job base to create substantial prosperity." With the increase in population comes an increased employment pool. Austin Troy, Chair and Professor of the Department of Urban and Regional Planning, University of Colorado Denver, discussed the additional impact of growth on employment, positive and negative. "On the question of employment, cities wouldn't be growing without the presence of employment opportunities," said Troy. "It is a dynamic process, though, in that the more people that are attracted to a city due to its growth, the larger and more talent that city's labor pool becomes, which in turn makes it more of a draw for more companies and entrepreneurs, which in turns drives further demand for employees." A W O M E N O W N E D L A W F I R M Appeals, Bankruptcy, Collections, Contract Review, Compliance, Deed-In-Lieu, Due Diligence Assistance, Foreclosure, Evictions, Litigation, REO, Title ALABAMA | FLORIDA | GEORGIA | MARYLAND | NORTH CAROLINA | SOUTH CAROLINA | TENNESSEE | VIRGINIA WWW.MTGLAW.COM