The Best Cities To Live In During A Recession
BusinessWeek asks, assuming that we keep sliding down into an official recession, where are the best places to live? They've pulled data from PolicyMap.com and the U.S. Census to make some educated guesses about local economies that will be least damaged by a large-scale downturn. They reason that no matter how the national economy fares, there will always be government jobs and a need for health care; higher education institutes provide a cushion for local economies, too.
Their top choice is Arlington, Virginia, because much of its labor force is connected to the federal government, lobbying, and the legal industry. Coming in second for pretty much the same reason is Washington, D.C., while #3 is Durham, North Carolina, because of its large education, medical, and research industries.
You get the idea: the more your city relies on education, health care, or the federal government for its local economy, the better off it will likely be.
Bizarre fact that proves how messed-up the economy is: #11 on the list is Lubbock, Texas, where I grew up. Yes, Lubbock is always that brown. Here is a photo my friend emailed me a few years ago during a particularly bad dust storm, no kidding:
 |
See the entire list here: "The Best Cities for Riding Out a Recession".
"Some Cities Will Be Safer in a Recession" [BusinessWeek]
(Photo: Getty Images, Brad Johnson)
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam malesuada commodo erat et molestie. Duis pellentesque aliquam bibendum. Suspendisse venenatis lobortis eleifend. Mauris id est sed lectus convallis aliquam.
Post a comment
Comments:
I would not have guessed New Orleans.
I moved to Arlington, VA (from NYC) in April and had much this same reasoning, heh. I figured, my current job isn't in government but if everything goes to hell with my company, there will still be jobs here in the metro DC area.
(And if the federal government goes out of business, I have WAY bigger problems than unemployment to worry about.)
Author notes...possible ledes?
"When life throws you a shit storm, you're best off in a toilet."
"Turns out, it's better not to have loved than to have loved and lost."
"There is no stock crisis in areas where stock is primarily live."
"I quickly forgot meting out credit default swaps as my default became credit at swap meets."
New Orleans has finally made it on a GOOD list!
Ahh yes, Bureaucrats and Bloodsuckers (lawyers and lobbyist) always survive.
Hell, the class action types are just salivating over the lawsuits from this thing.
@algal924:
Energy industry, major port, transshipment, construction. Most, if not all, offshore rigs are accessed via New Orleans. A big legal center, too- the supreme court of louisiana and the federal fifth circuit court of appeals are both in Nola. The cost of living is ridiculously low considering the quality of life available (excluding education costs).
Tourism may be a problem in a recession, but then again, it may pick up as people choose to vacation closer to home.
Buffalo? Irvine? I have to beg to differ with those choices. Irvine was built on the home mortgage bubble, and it has imploded with it. The neighborhoods are clogged with for sale signs and it's one of the worst places in CA for home foreclosures.
I myself am planning on riding out the recession in grad school, getting paid to burnish my credentials on the public dime.
I think I picked a good year to leave private industry and go to work for state government (even with the $10,000 cut in pay).
I thought that the entry on Durham and saying that people commute from there to jobs in Raleigh was amusing. It's really the other way around. Don't believe me? Come here and see which way the traffic jams in the morning: from Raleigh/Cary to RTP and from Chapel Hill to RTP. In the afternoon, it's in the other direction: towards Raleigh and away from Durham...and towards Chapel Hill.
To be sure, Durham is a nice town, but it ranks fourth in this region in liveability -- behind Raleigh, Cary and Chapel Hill.
IRVINE?! Are they smoking sweetgrass?
My parents lived in Lubbock for a while. They said the entire industry- in the early 80's, at least- revolved around manual labor. Wonder what drives the economy these days?
The greater D.C. area definitely isn't hurting nearly as much as the rest of the country right now. Even the arts and retail are going fairly strong, although restaurants are taking a hit. Funding is desperately needed for the D.C. school system and regional transit, but that's nothing new and not related to the economy.
Lubbock is NOT always that brown (not even close). But it does get that way at least a couple of times a year. And Lubbock is fairly recession-proof.
They left Oklahoma City off that list. It's pretty recession-proof too. Lots of media people have been talking to various economists about that lately.
Both cities have been insulated from the housing bubble by not engaging heavily in questionable lending practices. Housing prices have thus not been raised artificially high.
All I know is that you want to stay away from Idaho. The worst corruption in America, bar none. Toxic wasteland throughout the state and they *hate* anyone from out of state, or more specifically, Californians. Bunch of lead poisoned, undereducated, mean, nasty and prejudiced people. (As the Wolves found out recently.)
Alaska I got to think is a close second...
California has its problems, but I still think it's probably the best place in the world to live.
@Ausoleil:
I live in Fayetteville/Fort Bragg area....to me, Raleigh and Durham are the same thing (that's just my ignorance, of course).
Great time to be in the Army, though. Job security, great benefits, and travel included! Fayetteville seems to be pretty secure.
Yeah but it's only a good city if you want to work in govn't, health care, or education. (Since when is education lucritive? No teachers can find a job where I live.) These lists are pointless b/c they're "the best cities for this imaginary set of people."
Lotta good music out of Lubbock, anyway.
But that isn't enough to get people to stay. Including the musicians...
@sarahandthecity: hahahahaha that's also so true.
i went and visited my buddy in college there (i'm in college in Dallas, TX)... yeah... wasn't much sobriety. :)
@TracyHamandEggs!: You know lawyers are like cops... not all cops are pigs. It's really a shame that society focuses on the few and makes THAT their image of the group instead of just making them outcasts of the group and focusing on the best!
@Invective: I'm going to assume you're a liberal-minded person. Which is fine.
Unfortunately for me, I'm going to hate every state. I think marijuana should be legalized, I love guns, I love freedoms, etc. I'm essentially a libertarian who thinks just barely to the left of middle.
That's why I don't want to live in California. I don't mind Texas... but then again I haven't really experienced (or educated myself on) the policies of many other states.
Durham?
Funny. I thought the state capital (you know, with so many of the government offices) was Raleigh.
Durham's a nice town (well, depends on who you ask and what part of town you're in), and it won't fare badly this in this economy, but Raleigh should be #3, in lieu of Durham.
@Quietly:
I would say Texas Tech and the hospitals. And (lord have mercy) the chain restaurant industry. They're EVERYWHERE!
@algal924:
The downtowns of Raleigh and Durham are like 30 miles apart, and vastly different culturally.
Gotta agree, much of Durham is pretty rough compared to Raleigh, Durham is getting a little better, but a large majority of gov't jobs are in Raleigh.
I hate lists that span a page for each entry. Give it all up front and THEN have a page for each entry.
1 - Arlington, VA
2 - Washington, DC
3 - Durham, NC
4 - Madison, WI
5 - Boston, MA
6 - Pittsburgh, PA
7 - Baltimore, MD
8 - Baton Rogue, LA
9 - New Orleans, LA
10 - Philadelphia, PA
11 - Lubbock, TX
12 - Anchorage, AL
13 - Lexington-Fayette, KY
14 - Buffalo, NY
15 - Lincoln, NE
16 - Irvine, CA
17 - Seattle, WA
18 - Chesapeake, VA
19 - Albuquerque, NM
20 - Corpus Christi, TX
21 -
Seattle? We're in economic freefall here in Seattle. The article mentioned WaMu, yes, but we've had major layoffs at Weyerhauser, an upcoming one at Alaska Airlines, Boeings CEO has no intention of resolving the machinist's strike because it's too damn expensive to build planes here, the City of Seattle will be getting rid of 255 positions, Microsoft has made hiring "adustments" (read:freeze), Safeco is no more in Seattle, the Sonics and associated revenue are no more, Redfin just laid off 20% of it's force.... The punchline? Forbes rates Seattle as the number one most difficult city in which to sell a house.
I'm confused...why include DC and Arlington but leave out Alexandria City. Or Silver Spring and Bethesda. It probably would have been better to have top 10 metropolitan areas instead of specific cities. This way DC Metro and Raleigh/Durham/Chapel Hill were single entries, which is a better reflection of their interdependent economies.
So, working in higher education in D.C. makes me golden, huh?
If I wasn't getting my degree in something shaky like film anyway.
@BytheSea: Agreed. I live next to both #1 and #2 and since my husband is in architecture and I'm preparing for a career in film and/or television, I don't really think our chances are as high as all this.
The only saving grace is that right now I DO work in one of those industries.
I'm totally not surprised that Lincoln made the list. I go to school there and yea, it's a cheap place to live. People buy huge houses for the same price that you buy a more moderately sized one in my hometown in Oregon with like no yard. The people are super friendly here (and in Oregon too!) though.
@carlogesualdo: Especially as a resident of Oklahoma City, I was surprised not to see OKC on there myself. I think it was Forbes that named OKC the most "recession-proof" city in the nation?
The list forgot to include LIVING IN A VAN DOWN BY THE RIVER!
pittsburgh, pa, i am convinced, is just the best city to live in, period. it's always on those "most livable" lists and now this one.
represent!
@baquwards: Durham is the lesser of the three in the Triangle, just like High Point is the lesser of the Triad. There are a lot more people working at UNC and in RTP than commuting into Durham.
Buffalo, NY? That place died 50 years ago... the city demolishes 50 abandoned homes a day. Buffalo is boom proof.
The list should have listed Pompeii as recession proof, since the volcano killed everyone and all economic activity a thousand years ago.
I lived in Lubbock, TX for a few (to many)years. I always heard people joke about "that song". And you know it's true...., "Happiness is Lubbock, TX in my rear view mirror".
I think I can tough it out here in San Francisco : )
You grew up in Lubbock?? I'm sorry for your loss!
No doubt working in Arlington, VA and Washington, DC are recession resistant. But most technical companies and government agencies require you to obtain a security clearance. Security clearances are very expensive. Even if you were willing to pay for the process you can't just get one without employment. The security clearance is required by many companies for entry into a job fair. You can transfer from one company to another with a security but there are many restrictions. Also recently separated from the military can carry over their clearance for a short period of time. Besides the issues with obtaining a security clearance, your job really needs to pay well. Living in Northern Virginia and the entire DC area is very expensive. The area has a lot to offer including gridlock that never seems to quit.
Why Lubbock? I have been there, its nothing to write home about, and the airport stinks
@EtoilePB: Good luck finding a free-standing home for less than $600,000 inside the beltway. That's why we left.
Buffalo? Really? I always thought Buffalo wasn't doing that well, for some reason, compared to some smaller cities in New York like, for instance, Albany. Maybe smaller cities weren't considered in the survey?
@Invective: 'Bunch of lead poisoned, undereducated, mean, nasty and prejudiced people.' - that's every Californian's review of anywhere I've ever heard.
Still, from personal experience at least, it seems most Californians should just stay there. Why do they leave?
God knows I'll never go there - I like being welcome in place.
@lannister80: I've never lived in a single-family home and I don't guess that I'll get to start within the next decade or two. I grew up in Boston, then lived in Manhattan for three years, before I hit Arlington -- as compared to the ridiculousness of New York, I'm still all, "woo-hoo! DC's cheap!"
As a friend of mine would tell people he knew who were bound for Texas Tech, "Lubbock isn't the end of the world, but you can see it from there."