Good News for Metro DC, Says Richard Florida
The same economic reports from May (namely, the jobs report and the Home Price Index) that have led to some concern about the direction of the U.S. economy overall, tell a very different story about Wahington DC, according to Richard Florida.
Richard Florida writes, "on all these indicators [job growth, home prices, etc.] and more, Greater Washington DC flies in the face of the national trend."
Specifically, Florida cites Metro DC as experiencing the highest level of housing appreciation on the Case-Shiller Home Price Index (4% +). Also, the DC area posted the second lowest rate of unemployment, according to the Bureau of Labor Statistics (5.4%). Finally, Florida explains "DC households boast the nation's second highest real household income, $61,449, when cost of living is taken into account."
Published on Tuesday, June 7, 2011 in
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