Forbes Magazine has just named Los Angeles one of 10 metro areas in the U.S. where the Recession is ... easing!
According to Forbes, the Los Angeles metro area ranks an unfortunate 31st in unemployment, but that's largely due to Los Angeles' dismal 27th ranking for job growth from 2007 to 2009.
But times they are a-changing!
Forbes projects that we'll move up to 12th for job growth over the next three years. That's significant for an area that's the 2nd largest metro economy in the country.
And most importantly, LA is ranked 4th among 40 Metro areas for Housing Price Improvement.
From Forbes:
- "California was perhaps hit hardest by the housing crisis. In spite of that, Los Angeles rises above the rest of the state, and other big cities in the country, to No. 9 on our list. Although the Golden State's real estate woes began earlier and were more pronounced than in large parts of the country, they began easing sooner.
Angeles has strong banking and finance industries and a housing market that, while it suffered from a major pricing bubble and bust, has seen a resurgence of demand. After falling to a median $311,100 in the second quarter of 2009, home sale prices there jumped 11% in the third quarter and another 2% between the third and fourth quarter of 2009 to a median $342,700, according to the National Association of Realtors, making number four in sales price improvement out of our 40 cities."
To check out the entire Forbes list, CLICK HERE.
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