What's Hot: Barnes and Noble Returns To Georgetown Next Week | How An Unmarried Couple Buys A Home Together
Brookings: DC Still Rising
✉️ Want to forward this article? Click here.
Economic indicators reveal that the nation is slowly on its way to a tentative recovery, with some cities recovering much faster than others, determined the Brookings Institution in their latest edition of Metro Monitor.
Every quarter, Brookings tracks the economic performance of the top 100 metro areas in the country, comparing current numbers to their lows during the recession. The Metro Monitor includes snapshots of individual cities and, of course, UrbanTurf is most interested in where DC ranks.
DC’s rankings, courtesy of the Brookings Institution
As UT readers no doubt know, the area’s housing prices have recovered better than most, ranking 15th out of 100 among the metro regions. For employment recovery, DC ranked a respectable 37th, and a graph in the snapshot shows that DC employment numbers are rising steadily, recently surpassing their 2008 highs. Brookings also drilled down into the employment numbers for various industries in the DC area. Apparently, the leisure and hospitality sector has grown the most of late, perhaps due to our restaurant boom; that sector is followed by construction, which we see evidenced in the cranes all around us. You can find all the details here.
In more confirmation that DC is rising, the McKinsey Global Institute (recently reported by The Atlantic Cities) just compared the GDP of thirty U.S. cities in 1978 versus 2010; in that time period, DC climbed from the seventh spot to the fourth, switching places with Philadelphia. Now we only follow New York, Los Angeles and Chicago, who maintained their top spots over the 30-year span.
See other articles related to: brookings institution, dclofts, economic recovery, recession
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/nation_recovering_from_recession_but_slowly/5708.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
Paradigm Development Company has plans in the works to build a 12-story, 110-unit con... read »
The map and text amendment applications that were filed with the Commission last Octo... read »
- How An Unmarried Couple Buys a Home Together
- What Are Estate Taxes and How Do They Work?
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- 110-Unit Condo Project Planned in Alexandria Coming Into Focus
- The Zones That Could Lead To More Development in Chevy Chase Set To Go Before Zoning Commission
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro