Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 400

The School of Cities at the University of Toronto and the Institute for Governmental Studies at the University of California, Berkeley have been using mobile phone data to track the recovery of 62 downtowns across North America. This work has been being published at downtownrecovery.com , but it has also been widely cited.

First, to be clear on how this works, the data they are collecting is not dependent on people actually making calls or actively consuming data on their phone; instead it is simply based on people having a phone with them and being physically located in one these 62 downtowns. It also covers the period between January 2019 and November 2022, and includes cities with least 350,000 people.

I'm not exactly sure how long the phones need to be in a particular place or how they treat time in their data, but the unit of measure is something that they call a "Point of Interest." This includes things like restaurants and shops, so presumably this data isn't just saying, " I went downtown and sat in my office for 8 hours." It could also be, "I went downtown and ate good pasta."

I say this because, based on my understanding of the data, having a high Recovery Quotient (RQ) could mean a number of different things. It could mean that more people are back in the office, but it could also mean that the downtown isn't a monoculture and that it has other things going on besides just work.

In any event, here's what they have found:

The headline finding is that San Francisco has the lowest RQ at 31% and Salt Lake City has the highest at 135%. There does appear to be a bias toward higher recoveries with mid-sized cities, and one of the reasons for this is that these recovery quotients appear to be correlated with average commute times:

Some of the other strongly correlated explanations, include the percentage of jobs in professional, scientific, and technical fields:

And the number of days that events were shut down during the pandemic (note the Canadian cities on the right below; welcome, New Orleans):

I suppose one way to grossly oversimplify these findings is to say that some people have been avoiding going downtown if they can't quickly drive there (and have to take transit), if their job more easily allows them to work from home, and if things were shut down for too long during the pandemic. Because if it was, they maybe forgot about all of the fun things that typically happen downtown.

Image: The School of Cities

Last year, IKEA went around the world interviewing some 37,000 people in 37 countries about what it takes to " make us feel at home ." And one of the things that they discovered was that nearly 50% of people do not feel like their home reality is authentically represented by what they see in the media. In other words, there is a disconnect between how we actually live at home and how the media suggests we are or ought to be living.

To explore this disconnect a little further, IKEA has just announced that photographer Annie Leibovitz will be the company's inaugural Artist in Residence. Leibovitz is best known for her celebrity photographs. But for this assignment, she's going to be travelling to the US, the UK, Japan, Germany, Italy, India, and Sweden, to photograph normal people doing normal things in their homes.

This is a fascinating idea because we know that there are all kinds of cultural biases around housing. Here in North America, for example, there is a longstanding history of hating apartments . If you wanted to properly raise a family, you needed a morally correct form of housing; meaning, a grade-related house . But this reality isn't universally possible in most big cities today, and that is probably one of the reasons why we now have this disconnect :

...why do people feel like they're not represented in the media, that they’re left out? ‘In the same way that there has been a typical idea in the fashion industry about what size a woman should be, there's been a typical idea of what a home is,’ wagers Leibovitz. ‘But now we've opened up in all sorts of ways, and there’s a difference between a home and feeling at home. And the latter can happen in many different places and maybe that's more important now than an actual home.’

On a more basic level, I think people are also just endlessly curious about how people live and what their homes are like. So regardless, this should be interesting.

Photo by  charlesdeluvio  on  Unsplash

According to this annual survey by Henley & Partners (first chart from Bloomberg ), these are the top 10 wealthiest cities in the world when you count the number of high-net-worth individuals (i.e. people with investable wealth greater than US$1 million):

However, if you instead count billionaires, the top city flips from New York City to the Bay Area (which includes San Francisco and all of Silicon Valley). This isn't all that surprising.

Also not surprising is the precipitous decline in the number of HNWIs residing in Hong Kong. From 2012 to 2022, the number declined by 27%. That said, a bunch of other cities fared even worse. The city that lost the most millionaires over this same decade was Moscow. It declined by 44%.

For those of you wondering about Toronto, we placed 12th, just after Chicago, with 105,200 millionaires, 193 centi-millionaires, and 18 billionaires:

The next city in Canada on the list is Vancouver, and following that is Montreal:

It is interesting to see how much further behind Montreal places with these metrics given that it is an urban region with about 1.6x the population of that of Vancouver's.

Also interesting -- given its size and global importance -- is Paris (18th when it comes to HNWIs):

However, when it comes to seasonal draw, Paris is second only to Miami, which appears to be the undisputed global destination for rich people in the winter. Paris has 126 centi-millionaire residents, but during its peak holiday month (presumably summer), this number is believed to increase to over 300:

Finally, looking at Park City, Utah, it has 8 permanent centi-millionaires and this number is thought to increase to over 100 during the winter snowboarding season. And to be clear, this transient population figure only includes people who own a second home there. It does not include rich people paying US$3,700 per night to stay at Deer Valley. That's pretty good for a small town of only 8,500 permanent residents.

To check out the full list of 97 cities, click here .