Lincoln, Wichita, Fargo, Victoria, Knoxville, Tulsa, and Des Moines. These 7 cities share the distinction of being "recession-proof," according to a new study by Livability.com.
Many of these cities are part of the Silicon Prairie, including top-ranked Lincoln, Nebraska, and Des Moines, Iowa. The Hawkeye State claims a bustling tech startup ecosystem, was one of the top cities for tech hiring in 2018, and is one of Livability's top up-and-coming tech hotspots. As well, Des Moines has lower annual budget volatility than the national average, and has more in reserves than other states, according to recent Pew Charitable Trusts analysis. In terms of affordability, Des Moines' unemployment rate grew 1.2 percent during the last recession, and housing prices changed only 0.1 percent.
A recession may be looming in America’s near future, and you don't have to take our word for it: A recent Duke survey polled more than 500 chief financial officers across the U.S., and nearly half of them believed there will be a recession by the end of this year, with an even higher number — 82 percent — predicting a recession by the end of 2020. Signs of an impending economic downturn are appearing everywhere — from slumping numbers on Wall Street to decreasing demand for American goods in other parts of the world.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds that beach homes are the most sought-after vacation-home type, and the investment potential of a second home is an important factor in homebuyers' purchasing decisions
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable