SHARE

Recession Proof Cities

Recession may very well be one of the most used terms you hear in the news today. So it was a little surprising to me when I saw an article that used “recession” in its title, but in a positive way. CNNMoney.com released their ranking of America’s Most Recession-Proof Cities.

Recession may very well be one of the most used terms you hear in the news today. So it was a little surprising to me when I saw an article that used “recession” in its title, but in a positive way.

CNNMoney.com released their ranking of America’s Most Recession-Proof Cities. We all know that the economic downturn hasn’t been easy for anyone, but some metro-areas have fared far better than others. According to MetroMonitor, a quarterly report released by Brookings Institute’s Metropolitan Policy Program, the following 21 large metro areas were singled out for keeping their labor and housing markets stable and posting robust economic activity during the past few years.

Albany, NY

  1. Albany, N.Y.
  2. Augusta, Georgia
  3. Austin, Texas
  4. Baton Rouge, La.
  5. Buffalo, N.Y.
  6. Columbia, S.C.
  7. Dallas, Texas
  8. Des Moines, Iowa
  9. El Paso, Texas
  10. Honolulu, Hawaii
  11. Houston, Texas
  12. Jackson, Mississippi
  13. Little Rock, Arkansas
  14. Madison, Wisconsin
  15. McAllen, Texas
  16. Oklahoma City, Oklahoma
  17. Omaha, Nebraska
  18. Rochester, N.Y.
  19. San Antonio, Texas
  20. Tulsa, Oklahoma
  21. Washington, D.C.

What sets these cities apart from others? A number of them are government centers, and many have experienced a positive, stable housing market. No. 3 on the list is Austin, Texas, a city also known for its strong government presence (and the fact that it’s where one of my favorite shows, Friday Night Lights, is filmed). We reached out to Helen Edwards, President/COO of Coldwell Banker United, Realtors’ Austin division, for her perspective on why Austin was near the top of this year’s list.

“We have been fortunate in that the Austin market has several factors working in its favor,” said Helen. “The relatively low cost of housing and commercial space makes Austin attractive to start ups and relocating companies. We did not see an enormous inflation to our housing prices during the boom, so did not have the same impact of falling prices that other markets experienced over the past few years. And being home to The University of Texas at Austin, real estate investment opportunities abound. Not to mention, it is a beautiful, vibrant city with a fairly mild climate. People just want to live here,” she said.

If Coach Taylor could coach my kid’s football, I’d want to live there too (another Friday Night Lights reference for those keeping score at home). But whether it’s Albany, Austin or Omaha, all of these cities are proving to be worthwhile places for those looking for a future place to call home.

Photo courtesy of Flickr user joeshlabotnik

Husband. Father. Socializer. Mets Lifer. TV Afficianado. Consumer Engager.

David Marine is the Vice President of Brand Engagement for Coldwell Banker where he oversees the brand’s content strategy including acting as managing editor for the Coldwell Banker blog and heading up video production efforts. While Vice President by day, David runs a three ring circus at night as he is the father of 4 boys. He also happens to be married to Wonder Woman. True story.

Mortgage Paperwork Now Part of Process
Taking My Lumps