Salt Lake City is one of 10 recession proof cities
Posted: May 5th, 2008 | Author: Nathan Blair | Filed under: Forbes magazine, economy | Tags: Forbes 10 recession proof cities, salt lake city economy, salt lake city real estate, Utah real estate market | 5 Comments »
A word to Salt Lake City residents – our city is not doing as bad as the media would like you to believe. We have recently been named one of the country’s top 10 recession proof cities, according to a study done by Forbes.
It is true that our unemployment rates have gone up to 3.1%, but we are still below the national average of 5.1%. And our housing prices rose 2.5% while most of the nation was dropping. The other promising number, according to Forbes, is a 5.5% expected growth percentage in education and health services.
I’ve always thought that it is important to publicize this kind of news in addition to all the bad news swimming around out there. It’s too easy to get caught up in the gloom of the national media, so I make sure to point out good news when I see it.
Salt Lake City residents are in a relatively good position right now. Jobs are still being created, people are buying homes (although there needs to be more of that happening), and health services and education is growing. I know people here are feeling the rise in prices, but it could be a lot worse for our city. I don’t think it will be too many months before we start to come out of this, especially in the Salt Lake housing market.
Tags: Salt Lake City economy, Salt Lake City real estate, Forbes, business, real estate
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At one time, Las Vegas was recession proof, but not anymore!
This article is a Joke!! Do some of these so called experts thinks that americans are stupid to believe such information.
A little context is necessary. The article was written back in April of 2008. It’s no surprise that many people believed we were experiencing a geographically limited dip that would soon be overcome.
It’s a great idea to stay positive, but not over confident. We’ve made some great strides in the last few months and our community leaders need to be encouraged to take more positive measures to improve our economy.
The basis for a recession proof city was home prices are decreasing and unemployment is going up. If Salt Lake City is still standing tall then that just proves their leaders are taking necessary measures to perk up the economy despite the recession.