Three North Texas Recession Proof Markets...Collin and Denton Counties (Austin: colleges, live in)

[TurtleCreek80]

Originally Posted by Capitalprophets

The question is, are we still recession proof after this pandemic hit?

Not recession proof but one of the best places you’d want to be coming out of a recession.

We have a diverse economy and a ton of forward momentum so it will be easier to get the economy going again here.

[CREW747]

Originally Posted by TurtleCreek80

Not recession proof but one of the best places you’d want to be coming out of a recession.

We have a diverse economy and a ton of forward momentum so it will be easier to get the economy going again here.

Absolutely.There are a number of metro areas that will ride this out much better than others.I would put DFW at #1.We are privileged to live and work in DFW from an economic standpoint during a situation like this.Examples of places you do not want to be...

Connecticut
New Jersey
New York
California

[serger]

Originally Posted by stan4

I bought in 2010 whilst shopping 2007-2010.
The inventory was low and almost every property we wanted devolved into a bidding war.
Location, location...

Well, we also bought in 2010, after shopping for a couple of years but again it was cheaper than the years prior. Yes, the inventory was low, since a lot of people could not accept the fact that the values have gone down.

[Wittgenstein's Ghost]

Originally Posted by Capitalprophets

The question is, are we still recession proof after this pandemic hit?

Nowhere is recession proof. This phrase is so over-used.

[Capitalprophets]

Originally Posted by Wittgenstein's Ghost

Nowhere is recession proof. This phrase is so over-used.

I'm with you. OP thinks NTX is.

[CREW747]

Originally Posted by Capitalprophets

I'm with you. OP thinks NTX is.

While there is no metro area statistically probable of being 100% recession proof...In my opinion,other than the DC metro area,there is no place in better shape to ride out something like this from an economic standpoint than DFW.

Places like Connecticut and New Jersey for example,were literally ready to unravel economically before this major event.If I am a tax payer in either of those states,I am feeling nervous right now.

[Mr. Clutch]

It depends.

In the case of if an extended recession were to hit north Texas as a result of covid-19, my guess is that the area would probably do worse than the national economy as a whole because even though the economy there is diverse, there are still quite a few notable sectors in which DFW is overrepresented when compared to the overall national economy. Those sectors are aviation and airlines (which will be the single biggest hit industry in the aftermath of the coronavirus pandemic), energy (the second biggest industry hit) and surface transportation/logistics (which is reliant on a healthy national economy for growth). There is also large corporate presence and corporate jobs often are reduced quickly during a recession.

The great recession didn't hit DFW as hard as places like Atlanta and Chicago because at the time, the shale and fracking boom was underway and that provided a bit of a buffer against further economic deterioration. It's obviously not Houston, but energy is still a very large sector in DFW with a few major players there.

I don't expect an extended recession as a result of this covid-19 situation but if that were to happen, I'd definitely expect DFW to fare comparatively worse than it did during the last one, maybe among the worst for large metros in the country. Energy saved the area last time but that wouldnt happen this time around for obvious reasons.

In the case of a more "normal" recession, I'd expect the area to do about as well as the country as a whole, perhaps slightly better as long as the regions largest economic sectors aren't disproportionately affected.

[Wittgenstein's Ghost]

Originally Posted by CREW747

While there is no metro area statistically probable of being 100% recession proof...In my opinion,other than the DC metro area,there is no place in better shape to ride out something like this from an economic standpoint than DFW.

That's a totally different claim than saying a place is recession proof.

[PriscillaVanilla]

Nothing is recession proof.

[Runnn]

Originally Posted by Wittgenstein's Ghost

Nowhere is recession proof. This phrase is so over-used.

Amen! Lots of folks believing said nonsense. There are so many variables involved... once they converge chaos may ensue? It's like the following: "He doesn't bite." Um, he can bite, but the variables for him to bite just haven't converged. "It isn't in a flood plane." It may not be, but that doesn't mean the variables which led to that conclusion haven't changed. It it rains enough then anything can flood.