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Executive Summary:

Webster Pacific and United Van Lines collaborated to better understand the impacts of Covid-19 on USA moving trends.  Using United Van Lines data, Webster Pacific studied moves by zip code and metro area over a two-year period across the contiguous United States.  This report finds that Covid-19 has caused people to move out of the largest metro areas, favoring smaller metro areas.  Additionally, people are moving out of New York/New Jersey and California at higher rates due to Covid-19 and moving into the South and the Midwest Plains.

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Introduction

This report is compiled by location analytics specialists Webster Pacific (www.websterpacific.com) and wealth intelligence firm New World Wealth (www.newworldwealth.com). The wealth and HNWI figures in the report are for June 2020 and they therefore take into account the impact of the recent coronavirus outbreak.

Contents

1. Introduction
2. Benchmarking US wealth in context
3. The wealthiest cities in the US
4. USA luxury vacation index
5. Spotlight on luxury residential estates
6. The Coronavirus impact 1H 2020
7. Wealth vs GDP
8. Research and methodology

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Executive Summary

Covid-19 has dramatically impacted tourism and, in particular, international tourism. Certain luxury retail markets are more dependent upon tourism than others. Our analysis predicts that the luxury retail markets most negatively impacted by Covid-19 will be those markets with the greatest presence of luxury retail AND the greatest international tourism per capita. We predict that the luxury retail markets of Miami, Honolulu, and Las Vegas will be the most negatively impacted.

Wealth intelligence firm New World Wealth and location analytics specialists Webster Pacific recently reviewed the top cities worldwide by total wealth held. See top 20 below. As part of this study, Webster Pacific created heat maps for certain major cities to give a better indication of which neighborhoods are the wealthiest in each city.

Download Press Release: World cities 2019

Wealth Maps: London, Dubai, Mumbai

Coverage: Quartz, Khaleej Times 1, Khaleej Times 2

Written by The News Tribune’s Debbie Cockrell. Published on The News Tribune on June 7, 2019.

Portions of Pierce and South King County are getting wealthier.

From 2012 to 2017, the Tacoma metro and surrounding area, which includes some of South King County, have seen the number of high-earning households, those that make $200,000 a year or more, grow from 14,594 to 24,137.

That’s according to census data and numbers compiled by data and analytics consulting firm Webster Pacific, based in San Francisco.

Not all of the high-earning households are new, the researchers said. Some of them could have been in the area before 2012 and experienced wealth growth.

Yet, as Seattle’s housing market has continued to push more home buyers southward, some neighborhoods on the outskirts of Tacoma’s metro area have been among those to see the most growth since the market rebounded after the Great Recession.

The accumulation of wealth leads to affordability concerns and raises questions about what is happening to the local economy.

*You can read the rest of the article on The News Tribune, via this link.

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***REPORT EXCERPT***

Finding the Top 50 Opportunity Zones for Real Estate Investment

To better understand an investment strategy in Opportunity Zones, Webster Pacific examined various data related to each zone in the United States and Puerto Rico. Our objective was to identify which Opportunity Zones represent places where the value of a property investment would most likely continue to increase. To that end, our analysis of real estate values has shown that incomes and wealth correlate strongly with real estate value. We therefore asked the following question: “Of all 8,700 Opportunity Zones, where are incomes and wealth already growing the most?”

To answer this, we calculated the growth in the percentage of households earning $200,000 or more in each of the 8,700 Opportunity Zones. (The growth is measured between 2000 and 2017 and is adjusted for inflation. We excluded any tracts that were recently created, tracts whose boundaries were significantly altered, or tracts with fewer than 100 households. A similar methodology was used in one of our earlier studies, released in an article by Bloomberg[2].) We then found the fifty Opportunity Zones with the highest wealth growth and mapped them in Tableau by metropolitan area.

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