LOCAL: Some Cities Unaffected by Recession
Daily Real Estate News | November 24, 2009
Some U.S. cities with stable housing and diversified employment have been virtually untouched by the Great Recession.
Analysts say cities that are most likely to leave the recession in the same or better condition than they started it are those where home prices didn’t fluctuate wildly, which spared them the devastating effects of foreclosure, lost jobs, and lost productivity.
If there is a lesson to be learned, experts say, it is that families looking for longterm economic stability should settle in locales with diverse employment and minimal shifts in housing values.
To identify these cities, Forbes magazine ranked the 100 largest Metropolitan Statistical Areas by employment rates, the conventional mortgage home price index, and the average days on the market for properties currently for sale.
The top cities on Forbes list were:
- Omaha/Council Bluffs, Neb.
- San Antonio, Texas
- AustinRound Rock, Texas
- Pittsburgh
- Harrisburg/Carlisle, Pa.
- Dallas/Fort Worth
- Rochester, N.Y.
- Houston
- Raleigh/Cary, N.C.
- Baton Rouge, La.
Source: Forbes, Francesca Levy

