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Report: DC Area Begins Recovery From Recession

  • February 14th 2011

by UrbanTurf Staff

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A report from George Mason University shows that the DC area continues to surge back from the recession, The Washington Post reported this morning.

Nine straight months of job growth (largely thanks to the federal government) have helped to revive an area economy that is one of the strongest in the country. The Post quoted George Mason’s Stephen Fuller who “predicted that the recovery would ‘accelerate this year and then continue growing well for several more years,’” peaking around 2015.

The increase in jobs, which are not just thanks to the federal government but area tech firms and start-ups, is also helping the area housing market, despite a coming round of foreclosures in Northern Virginia. From The Post:

The job growth has helped stem a second wave of home foreclosures in Northern Virginia, said Anirban Basu, chief executive of the Sage Policy Group, a Baltimore-based economic and policy consulting firm. “With job growth expected to remain in place for the rest of the year, the expectation is that other segments, like the housing market, will continue to improve,” he said.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/report_dc_area_begins_recovery_from_recession/2991.

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