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The Worst--And Best--Cities To Ride Out The
Recession
MUST READ:
No. 1 Austin, Texas (Best)
(Austin-Round Rock, Texas, area)
Underwater homes: 3.1%
Median home equity: $57,080
Unemployment: 4.5% (from 3.7% a year ago)
Median income: $37,517
Even with
the subprime market gone, the median home price in Austin rose by 4% in
the last year, according to the National Association of Realtors. Why?
Perhaps because people could always comfortably afford the homes in the
region--the median price is only $194,000. Even if Austin's high-tech
sector experienced a downturn, homes would still be perfectly affordable
for the many employees of the state of Texas or the University of Texas,
who are unlikely to be going anywhere. In Pictures:
The
Worst--And
Best--Cities To Ride Out Thhe Recession
Read the full story
No. 1
Austin, Texas (Best)
(Austin-Round Rock,
Texas, area)
Underwater homes:
3.1%
Median home equity:
$57,080
Unemployment: 4.5%
(from 3.7% a year ago)
Median income:
$37,517
Even with the subprime market gone, the median home price in Austin rose
by 4% in the last year, according to the National Association of Realtors.
Why? Perhaps because people could always comfortably afford the homes in
the region--the median price is only $194,000. Even if Austin's high-tech
sector experienced a downturn, homes would still be perfectly affordable
for the many employees of the state of Texas or the University of Texas,
who are unlikely to be going anywhere.
Forbes Magazine
October
15,
2008 |
