This is an interesting chart from Bloomberg showing the most affluent metropolitan areas in the US in 1949. As you can see, at the top of this list is Detroit, followed by mostly older industrial centers.
Now here's the list today:
It's largely a different list; but importantly, it's not an entirely new list. San Francisco was a wealthy city in 1949 and it remains one of the wealthiest today. But could that be changing? Given the city's current challenges, some are questioning whether it might end up as another Detroit.
I don't see that happening. And for what it's worth, here's evidence of nearly 75 years of resiliency.
Images: Bloomberg