Raleigh/Cary ranked as best economic area in NC
June 21, 2009
The Triangle Business Journal highlighted a published study that puts the Raleigh/Cary area in a good light. The Brookings Institute studies and compares the economic condition of metropolitan areas using employment, unemployment rates, wages, gross metropolitan product, housing prices and foreclosure rates as the barometer. According to Brookings, Raleigh and Cary rank as the strongest economic area for the entire state of NC.
Texas was a hotbed of economic activity, taking four of the top four spots. Unfortunately, for Florida, their state took four of the bottom spots with Detroit the only area ranked lower. What is telling about this, to me, is that the real estate market was a big factor in this list. Texas has some of the most affordable housing in a major metropolitan area and Florida has just seen the burst of a huge housing bubble.
Raleigh home prices were up 2% over last year yet still affordable with the average home price below $300,000. Foreclosure rates in the triangle are very low compared to many other metropolitan areas.
June 21, 2009 at 6:15 pm
[...] Texas was a hotbed of economic activity, taking four of the top four spots. Unfortunately, for Florida, their state took four of the bottom spots with Detroit the only area ranked lower. What is telling about this, to me, is that the real estate mRead more at http://scheuring.wordpress.com/2009/06/21/raleighcary-ranked-as-best-economic-area-in-nc/ [...]