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Vegas still flattened by downturn, but Austin may be bulletproof Austin, Texas -- steady as she goes By Martin Wolk, msnbc.com's business editor Austin, Texas, has the nation's best-performing economy over the past two
years, while Las Vegas has the worst, according to a new study of 150 of the
world's biggest metropolitan areas. The study of key cities in 53 countries found that many of the areas that
flew the highest in the long expansion of 1993 to 2007 fell the hardest in
the so-called Great Recession of 2008-09. Dublin, Ireland; Madrid, Spain; the three Baltic capitals of Riga (Latvia)
Tallinn (Estonia) and Vilnius, (Lithuania); along with Las Vegas and
Riverside, Calif., moved from the top 30 spots before the recession to the
bottom 30 spots during the recession, according to Global Metro Monitor from
the Brookings Institution and London School of Economics. Vegas was the nation's No. 1 economic performer in the 17 years before the
recession, trailed by Phoenix and Austin. Austin appears to hold the
distinction of being the American city least affected by the downturn,
ranking as No. 3 in economic performance before the recession, No. 3 during
the recession and No. 1 since. The recovery of the past two years, extremely modest in the United States
and Europe, has been felt more strongly in other parts of the world. Of the top 30 ranked metros in the most recent period, 29 were located
outside the United States and Europe, according to the report. At the top of
the heap is Istanbul, Turkey, a city that straddles Europe and Asia. China
and India alone accounted for 10 of the top 30 cities. Among U.S. cities, Virginia Beach, Va., Washington, D.C., and Dallas appear
to be well on the road to recovery along with Austin. Pittsburgh,
Indianapolis, and Atlanta join Las Vegas at the bottom of the heap. The report underscores the sluggish nature of the global recovery: About
half the 150 cities studied, especially in the United States and Europe,
continue to lose ground in either income or employment. Click
here for a summary of the findings by region or you
can get the full, 52-page
report. (Full Article Link Below)
http://lifeinc.todayshow.com/_news/2010/11/30/5554679-vegas-still-flattened-
by-downturn-but-austin-may-be-bulletproof Keeping you informed, wanting to help you with your real estate needs and
wishing you all the best, Anne ANNE JOHNSON-CHEVERERE Realtor(r) 512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax Follow me on LinkedIn Twitter Facebook
HookemHomes.com RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com SEARCH ALL LISTINGS REMAX.COM The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.
years, while Las Vegas has the worst, according to a new study of 150 of the
world's biggest metropolitan areas. The study of key cities in 53 countries found that many of the areas that
flew the highest in the long expansion of 1993 to 2007 fell the hardest in
the so-called Great Recession of 2008-09. Dublin, Ireland; Madrid, Spain; the three Baltic capitals of Riga (Latvia)
Tallinn (Estonia) and Vilnius, (Lithuania); along with Las Vegas and
Riverside, Calif., moved from the top 30 spots before the recession to the
bottom 30 spots during the recession, according to Global Metro Monitor from
the Brookings Institution and London School of Economics. Vegas was the nation's No. 1 economic performer in the 17 years before the
recession, trailed by Phoenix and Austin. Austin appears to hold the
distinction of being the American city least affected by the downturn,
ranking as No. 3 in economic performance before the recession, No. 3 during
the recession and No. 1 since. The recovery of the past two years, extremely modest in the United States
and Europe, has been felt more strongly in other parts of the world. Of the top 30 ranked metros in the most recent period, 29 were located
outside the United States and Europe, according to the report. At the top of
the heap is Istanbul, Turkey, a city that straddles Europe and Asia. China
and India alone accounted for 10 of the top 30 cities. Among U.S. cities, Virginia Beach, Va., Washington, D.C., and Dallas appear
to be well on the road to recovery along with Austin. Pittsburgh,
Indianapolis, and Atlanta join Las Vegas at the bottom of the heap. The report underscores the sluggish nature of the global recovery: About
half the 150 cities studied, especially in the United States and Europe,
continue to lose ground in either income or employment. Click
here for a summary of the findings by region or you
can get the full, 52-page
report. (Full Article Link Below)
http://lifeinc.todayshow.com/_news/2010/11/30/5554679-vegas-still-flattened-
by-downturn-but-austin-may-be-bulletproof Keeping you informed, wanting to help you with your real estate needs and
wishing you all the best, Anne ANNE JOHNSON-CHEVERERE Realtor(r) 512-917-5260 Cell 512-328-5151 Office 512-328-0404 Fax Follow me on LinkedIn Twitter Facebook
HookemHomes.com RE/MAX Austin Skyline 4611 Bee Caves Rd., Suite 200 Austin, Texas 78746 annejohnson@austin.rr.com anne@HookemHomes.com SEARCH ALL LISTINGS REMAX.COM The finest compliment I can ever receive is your referral. Please remember
me when your friends, family, and co-workers are thinking about buying or
selling residential and investment real estate.
