SA America's Second Fastest-Recovering City (Houston, Dallas: real estate, home, unemployment)

[majormadmax]

Anyone still want to talk about the bad economy here?!?

America's Fastest-Recovering Cities

Diversified industry and relatively stable housing give residents in these metros a measure of economic security.

While no region has escaped the recession, in Omaha, three Texas metros, a handful of Northeastern manufacturing bases and select southern cities, diversified industry and relatively stable housing fundamentals have provided local residents with comparatively secure standards of living.

In No. 2 city San Antonio, home to four military bases, and Austin, our third-ranked city and the state seat of government, municipal jobs supplement Texas' robust energy sector. In Dallas (No. 6), it's a thriving tech industry that buffers it from energy highs and lows. Although Houston (No. 8) is invested mostly in oil, it has diversified its energy industry beyond oil rigs into refining and chemicals manufacturing.

What's more, the state's housing prices never ascended to the unsustainable levels the rest of the country hit at the peak of the housing bubble. Thus, it didn't crash as hard. These factors have toughened the local economy against a recession that is inextricably tied to real estate.

"Texas didn't have as big of a boom," says James P. Gaines, research economist at the Real Estate Center at Texas A&M University. "So we're not having anywhere near the kind of bust."

Full Story, Full List

Cheers! M2

[sapphire]

Really? Tell that to 2 of my friends that no longer have jobs. Tell that to another friend who is taking a huge pay cut in 2010--employed with the same company, but will be bringing about 10K less home.

Glad things are nice and rosy for you, but they aren't for everyone. So, when you ask if anyone cares to talk about the bad economy, get ready. Some people do. There are people hurting right here in good old SATX.

Cheers!

[mamatotex97]

Agreed Sapphire.....it has impacted us and many people we know all in San Antonio.

[majormadmax]

Wow, did you really expect this meant that no one has felt the impact of a slowing economy?

I know several people who got jobs during this so-called recession, and I know some that lost theirs; but for the most part this city is handling the downturn in the economy much better than a lot of locations, and more people are losing jobs in other cities than the are in SA!

Plus, people lose their jobs during economic prosperity; and how they recover depends on how well they position themselves for such an eventuality. You can't spend all your money on SUVs, jewelry and fancy handbags; you have to prepare for the possibility of not having income at some point in the future...

[sapphire]

The expected response is "well, be glad you're/they're living here!" 5, 4, 3, 2 .............

Ooops, too slow!

[Backliteyes]

I have to echo sapphire. It's not as bad for me as her friends, but I've had the bad economy effect me in some pretty serious ways. The city and state economy is intertwined with the national economy, like it or not.

[Deep Forest]

That's a rosy picture nationally speaking but the entire economy took a big hit. No matter WHERE you live you're going to be affected in one way or another...so please include the entire picture when presenting musings.

[sapphire]

Originally Posted by majormadmax

Wow, did you really expect this meant that no one has felt the impact of a slowing economy?

I know several people who got jobs during this so-called recession, and I know some that lost theirs; but for the most part this city is handling the downturn in the economy much better than a lot of locations, and more people are losing jobs in other cities than the are in SA!

Plus, people lose their jobs during economic prosperity; and how they recover depends on how well they position themselves for such an eventuality. You can't spend all your money on SUVs, jewelry and fancy handbags; you have to prepare for the possibility of not having income at some point in the future...

Maybe it was the adversarial sentence you posted with the article. As if to say "how can you say it's bad here?"

The rah-rah cheerleading schtick gets tiresome. People are hurting here even though you know people who've been fortunate enough to land a job. And of course, we're obviously all out spending our money on SUV's and fancy handbags and jewelry.

[svg210]

Well it looks like were due for a turn around then!

[majormadmax]

Originally Posted by sapphire

The rah-rah cheerleading schtick gets tiresome.

So does all the doom-and-gloom, but I guess it's all propaganda to bring more people to San Antonio!