2012 Combined Statistical Area Gross Product-Released September 17, 2013 (cost, raise, salaries, similarities)
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Quote: "The Washington-area economy, hit by falling military spending and the looming fiscal cliff in 2012, dropped to fifth place among U.S. metropolitan areas, the Commerce Department said Tuesday. The D.C. area now trails Houston, which was buoyed by rising U.S. oil production. The San Francisco area saw the quickest economic growth among top U.S. cities in 2012, at 7.4%."
Quote: "The Washington-area economy, hit by falling military spending and the looming fiscal cliff in 2012, dropped to fifth place among U.S. metropolitan areas, the Commerce Department said Tuesday. The D.C. area now trails Houston, which was buoyed by rising U.S. oil production. The San Francisco area saw the quickest economic growth among top U.S. cities in 2012, at 7.4%."
No one writes about CSAs because even the government doesn't provide the numbers. DC grew only .7% in 2012. I would think the number will a little worse in 2013.
Do you remember in 09 when the housing crash reached its trough? I am still wondering why DC bailed out the failed financial comps in NYC instead of helping the suffering Americans in Florida, Nevada, Arizona, etc. Families were ruined, kids had to switch schools and lose their neighborhood kindle, families struggled to make delinquent mortgage payments and DC bailed out the S.O.B.s that caused this mess from the getgo?
Sorry I cant ever respect NYC and DC for what they have put this country through, not just in 09 but in 1929 also
It's not the citiea or the people, but the nature of economic growth.
Greed and Power is one thing, but breaking the law, misleading people, war profiteering, getting rich off of fake wars, deliberately speculating negatively on certain investments in the hopes they would fail, then taking hundreds of billions in taxpayer money etc.
All of that is a recipe for a huge correction. What goes around, comes around.
DC and NY now have the slowest growing economies among the largest CSAs, is that comeuppance? Who knows, but perhaps they should think of less evil ways to grow.
Sorry I cant ever respect NYC and DC for what they have put this country through, not just in 09 but in 1929 also
Are you referring to TARP?
You realize that U.S. taxpayers made a healthy profit on TARP, right? Those loans were extremely high interest.
And you also realize that TARP didn't impact just NYC and DC, but the entire nation. The biggest impact was in Michigan and Ohio, with the auto bailout, which saved Chrysler, GM and the entire supplier base (mostly located in MI and OH).
More stable than NYC and LA, yes. Government and the resulting consulting/lobbying is inherently more stable. As long as there's a healthy U.S., there will be a healthy DC
NYC and LA are obviously much larger and dynamic economies, but DC is about as sure of a bet as anything.
DC has arguably the best economic base of any metro. It's a solid #3 or #4 from here on out, IMO.
DCs office market, job market, economic growth are now in the dumps because the govt has been forced into spending less on wars, nation building and increased layers of bureaucracy.
If DC has the best 'economic base', then we're in trouble.
You realize that U.S. taxpayers made a healthy profit on TARP, right? Those loans were extremely high interest.
And you also realize that TARP didn't impact just NYC and DC, but the entire nation. The biggest impact was in Michigan and Ohio, with the auto bailout, which saved Chrysler, GM and the entire supplier base (mostly located in MI and OH).
You do realize that after giving them TARP money to keep people in their homes, banks proceeded to foreclose on millions of homes anyway?
Taxpayers made interest? Well that's nice, we're still standing on a fiscal cliff, renember?
DCs office market, job market, economic growth are now in the dumps because the govt has been forced into spending less on wars, nation building and increased layers of bureaucracy.
How is DC "in the dumps"? Could you explain this?
DC's office market, job market, and economy are among the best in the country.
And please don't cite the year-over-year CSA growth rates. Obviously if you already have a strong economy, you will have a smaller y-o-y number. DC never really ran aground in 08-10, so obviously it won't show similar y-o-y recovery as cities that got killed back then.
If my home is worth a million, and appreciates by 5%, am I worse off than someone whose home is worth 200k and appreciates by 10%? Obviously not.
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