We are all invested in the cities, assets, and infrastructure of tomorrow, even if we might not live to see the ten largest cities in 2100. But understanding climate change can get us closer.
Can you guess what the ten most populated US cities were in the year 2000?
New York and Los Angeles would be safe bets and come without hesitation. A moment’s pause, and Chicago would come to mind. Those who follow cities might remember that San Francisco and San Jose are separate in most data; skip them and reason that Houston and Philadelphia came next. The rest of the top ten would hardly surprise: Phoenix, San Diego, Dallas, and San Antonio all were warm and with large job markets. Detroit in tenth, was a city in decline but still servicing a healthy domestic auto industry.
NOW HERE IS A TOUGHER QUESTION: WHAT WILL BE AMERICA’S TEN LARGEST CITIES IN 2100?
In 1900, the five largest cities (in order) were New York, Chicago, Philadelphia, St. Louis, and Boston. Each had intuitive reasons for their dominance: coastal or river access, strong rail connections, trading advantages, culture, history, and even then, a lot of accumulated wealth in a select group of people and firms. And then Baltimore, Cleveland, Buffalo, San Francisco, Cincinnati round out the 1900 top ten.
In this episode of the AFIRE Podcast, Rajeev Ranade, Partner at Climate Core Capital, and Owen Woolcock, Partner at Climate Core Capital, discuss their recent Summit Journal article about the future of climate change and its effects on real estate.
Ranade was previously a Managing Director at RCX Capital Group, a tech-driven real estate investment and merchant bank. Prior to that, he was the Founder of Source Central, a web platform connecting capital to real estate opportunities, which was acquired by RCX. Ranade’s experience spans 14+ years within institutional real assets and he has lived and worked across Europe, Asia, and North America.
Woolcock is also a Research Associate for Harvard University studying climate change and how major cities are rising to the challenge. He has several years’ experience researching real estate, foreign policy, and urban areas.
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