Some analysts project a real estate crisis, and eventually a development crisis, in North Dakota. But New Geography’s Executive Editor Joel Kotkin thinks otherwise.
“Some might argue that it’s now the turn of oil patch cities to suffer, just as they did when prices plunged back in the early 1980s, setting off a decade-long decline,” Kotkin writes. “But many of these cities have made considerable progress in economic diversification, making themselves far more attractive places for non-energy businesses.”
Examples of industries that have experienced growth in North Dakota, especially in its largest city Fargo, are business services, manufacturing, and logistics.