Thursday, June 18, 2009
Dallas is fifth on recession-proof city list, says Brookings Institution study
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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