What’s Reshaping Arizona, New York City And Texas?

Arizona is becoming a hotbed for tech and manufacturing. New York City saw a massive exodus of its residents during the height of the Covid-19 pandemic. Texas is luring businesses and billionaires away from California. These are the states that people are leaving and the states seeing a surge in population.

00:00 -- Why Arizona is becoming a hotbed for tech and manufacturing
21:03 -- Here’s how New York City could save itself from bankruptcy
36:23 -- The rise of Texas and how it’s luring businesses and billionaires away from California

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online

#CNBC

What’s Reshaping Arizona, New York City And Texas?

[Immudzen]

This is pretty horrible. Having so many people live in a desert like Arizona is not sustainable. Bragging about how the Colorado river doesn't even reach the ocean is very bad for the environment. You can't just keep sucking water out of the ground and the colorado river without some really serious consequences.

[llsvr]

I'm an Arizona native and have lived here my entire life. I'm a registered nurse and my husband is an electrician. He has worked on many of those semiconductor plants including Apple, Intel and soon the new plant off the I17. We make decent money yet when we tried to purchase our first home in 2020, we could no longer afford it. We were qualified for $330, 000. The price of new builds we were interested in jumped from mid $250-$350k to over $400k. At the time we were renting a 4 bedroom 2 bath home for $900 in 2019. Now we currently pay $1795/mo for a 3 bedroom 2 bath townhouse. It's insane the rise in housing costs. It's also sad because AZ natives are probably not going to be able to stay in AZ for much longer with this influx of people coming here from other states.

[annpeerkat]

saying proudly..."The Colorado River sometimes doesn't even make it to the ocean" is a breathtaking ignorance of the present and future environmental damage they are causing

[DallasTechie]

As a former New Yorker and currently a Texan I want to make clear that the cost of living here is not as low as most media make it out to be. Housing, property tax, rent, highway tolls, are increasing drastically every year. Cost of living in TX was once affordable in the 90's to mid 00, now we face the same rise to cost of living issues as other major cities.

[sportycalvin]

Lived in Texas up until 1999, moved back in 2011 to Dallas, then Austin in 2015. Prices of everything have skyrocketed. Property taxes in Austin and surrounding cities are going up anywhere from 20-30% per year. Electric bills will wreck you. Not to mention the commutes. Texas always touts the no state income tax, which is fine and dandy except you will be stuck with massive toll bills in cities like Austin, Dallas and Houston, not to mention the amount of life you'll spend being stuck in traffic. I loved living there for a little while, but it changed so much, so fast. Texas will be the new California by the end of the decade. At minute 40, 16 seconds, the guy says the cost of living is normal and not artificially inflated? Does he even live in Texas? Go search apartments for rent in Austin. You'll see they are creeping up quickly to San Fran, NYC and others.

[Michael_RareZebra]

Arizona is becoming unaffordable, especially for those on fixed incomes. Investment firms are buying land & properties then flipping or renting them at ridiculous prices. Greed will only last so long until it detrimentally affects the quality of life of the majority.

[bluegas]

The footprint in Nature of this relocation must be insane. Arizona has barely water for the current population.... this will be fun in a decade or two...

[majerelynn]

What this video doesn't mention is what happens to those that are already living in these states. The cost of living goes WAAAAY up. I have friends offering me $700 a month to rent my small, spare bedroom because the cost of living has skyrocketed and they can no longer afford to live on their own. Meanwhile, I've met so many people on California talking about how they love it here since the cost of living is lower. Well, it WAS! All of those people relocating is putting a huge squeeze on what's left of the middle class in my area.

[Rajnoir]

It’s a repeat cycle. People will relocate, raise the cost of living until it becomes over the top, people will start to complain that these areas are too expensive meanwhile places that once were booming like la and New York have collapsed into bankruptcy and have become crime-infested cities with massive homelessness and almost no job opportunities. And now people are leaving at alarming rates. Places like California were once the places to move in the 70s all the way through the 90s. The cost of living was higher than the national average but still very affordable and now renting an apartment/house let alone BUYING a home here is almost unattainable. New York City saw the same thing in the 50s all the way through the 70s. People were moving at an alarming rate to the city and the cost of living went through the roof within a matter of a few years. And this is more apparent in other cities like Portland or Seattle where the cost of living over the last DECADE has double even Tripled in some areas!We saw it with cities like Detroit and Many small cities through the south that were once booming cities. And let’s not even talk about wealth gaps and income equality amongst whites and POC. then there’s another massive relocation and the cycle repeats itself. And all we do is destroy our local environments and ecosystems. We continue to add to the wealth gap, And we just continue to add to our carbon footprint 🙄

[zacharyeversole]

I love how CNBC doesn’t even bother making new videos anymore they’re just stitching 3 old ones together that are loosely related and putting a new title on it. Hard hitting stuff here.

[danieldaniels]

The housing cost in the Phoenix area has increased over 25% in the last two years, and in most desirable areas it has increased even more. It feels like a great deal for a NYC or SF transplant, but for us Arizona natives (I’ve been here over 50 years) it absolutely sucks.

[rickaguilar]

Arizona was the place to buy a home about 6 years ago or more. A normal drive to a shopping mall was about 15 minutes, now because of traffic the same trip is 45 minutes!

[SupaMaster]

I've lived in AZ my entire life. I remember it was very affordable when I was little and my parents didn't struggle too much with the money for living. My parents later divorced and now, my dad struggles in affording his apartment because it has since gotten more and more expensive every year to rent it. It has gotten to the point he has to work two jobs to pay his bills. My mom was fortunate to have bought a house before the whole housing price boom because she did lose her job and isn't struggling too much in paying it since the monthly payment is lower than renting an apartment. Now, all houses, even the old ones in Maryvale, are more expensive to buy and I question if I will continue to live here once I get my college degrees and start living by myself. There's way too many people here in the Phoenix area and the urban sprawl just keeps expanding more and more.

[dtshifter]

What about the water shortages in Arizona? I thought the ground water was nearly depleted there? You move millions of people there and put pools in every back yard, try to grow green grass and leafy trees it will speed up the problem. Is this growth sustainable there?

[tarzan]

I was born in Az. It’s honestly infuriating that the housing cost are becoming out of reach for so many AZ native myself included. It’s a desert with 119°+ summers in a world that’s warming. How much longer will PHX even be inhabitable?

[monicasilvia]

Homelessness, crime, cost living has increased . Is crazy how more houses are been build, but no transportation means like the big cities.

[kurtphilly]

This just feels like a marketing promo! How much were the tax incentives worth? I didn't hear anything about how they will grow the infrastructure so car traffic doesn't explode and other forms of transportation are ignored. It is great to have more businesses but if you don't design communities that don't strictly rely on auto transportation, Arizona will become the next Florida. Minus the water necessary to support all of these water-intensive industries.

Each of these chip plants will require millions of gallons of water per day, while recycling it for use is not 100% yet. I don't agree with water numbers from companies, I want an independent verification source.

[ChadCourtneyTAZ]

The on guy in Texas said that in Texas they charge the same property tax to everyone. That is completely false, every district sets their own property tax rates, and then MUD Rates, Levy Rates, School District Rates for homeowners property tax rates living within them. A person with a $300K house in one place isn't going to be paying the same property tax as someone with $300K house in another place within Texas.

[madbug]

Arizona better do something about their water shortage. Ignoring it will not make their drought going away.

[kalenaaa]

I'm an AZ native and moved 5 years ago due to it becoming too crowded. I grew up in a rural area, with wild horses roaming my backyard.
Over the years there has been excessive building and the desert just cannot sustain a big city life. The pollution has gotten so bad. And natural wonders have become overcrowded due to tourism and people wanting to have a 'spiritually aesthetic photoshoot' in Sedona for their instagram. I grew up hiking the mountains with my dad every weekend. Now when I visit and hike I feel like I'm trying to avoid photobombing more often than getting to enjoy the stillness of the desert