Thursday, June 18, 2009
Dallas is fifth on recession-proof city list, says Brookings Institution study
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According to this Brookings Institution study (PDF) released on June 17, Dallas is among the major U.S. metro areas least affected by the economic downturn -- ranking number 5 on the "least affected" list.
Contributing to Dallas' relative stability in the generally unsettled economy is its housing market, with prices actually posting an upturn of 3.4% in the first quarter of 2009.
Dallas employment numbers are down 1% over the same period (no city in the sampling actually showed an increase -- though some stayed virtually unchanged), while its gross metropolitan product (GMP) declined only .4%.
Leading the list of most recession-proof cities in the U.S. was San Antonio; Houston and Austin took third and fourth places, respectively.
posted by JM
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