Honolulu Makes Top 10 Most Recession-Proof U.S. Cities
The most recession-proof cities didn't see home prices surge in the first place, says the MetroMonitor, a quarterly report released by Brookings Institute's Metropolitan Policy Program.
MetroMonitor identified 21 large metro areas that have enjoyed robust economies and stable labor and housing markets in the last few years.
"Most of these cities have some general characteristics in common," says Howard Weil, author of the report and a fellow at the Metropolitan Policy Program. "They didn't experience huge housing bubbles followed by a crash, and their economies weren't rooted in the auto industry."
The top 10 stable cities identified by MetroMonitor are:
1. Albany, N.Y.
2. Augusta, Ga.
3. Austin, Texas
4. Baton Rouge, La.
5. Buffalo, N.Y.
6. Columbia, S.C.
7. Dallas
8. Des Moines, Iowa
9. El Paso, Texas
10. Honolulu
Source: CNNMoney.com, Hibah Yousuf (06/24/2010)
Mahalo For Reading.
If you or anyone you know is thinking about buying or selling a condo in Honolulu, Hawaii, it would be my pleasure to help.
Douglas Fischer, R.A., REALTOR, ePro, C.D.P.E.
RE/MAX Honolulu
www.HNLCondos.com
808-497-3810
Douglas@HNLCondos.com
Douglas is an experienced and respected Honolulu, Hawaii Realtor Associate, in partnership with his Japanese speaking partner, Christopher Sumida, who specialize in residential Real Estate and the sale of Condos in the greater Honolulu area including the neighborhoods of: Waikiki, Diamond Head, Ala Moana, Kakaako, Kapiolani, Makiki, Chinatown and Downtown Honolulu.
Recession proof? Wow! Sounds good to me.
Aloha Joan! Well, the words "Recession-Proof" proof came from the source of the study. However, as much as that sounds like a stretch, Honolulu has been very lucky to not have expereinced the highs and lows that most of the mainland has seen. That is not the case with other islands here, such as Maui and Kauai. Mahalo for your comments.