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Evidence That Arkansas is Recession Proof

Jun 5, 2008
As we find ourselves in the midst of tough economic times - a declining economy, astronomical gas prices, and a mortgage crisis that has profoundly affected the ability of many people to own a home. There are some places in the nation that have felt the effects of the mortgage crisis more than others, and other areas that are more "recession proof".

Parts of Arkansas, for instance, have been deemed "recession proof" in May of 2008, the Bureau of Labor Statistics declared that 27 metropolitan areas, where jobs outpaced the labor force during the recessions of the early '90s, and labeled those areas "recession proof". Northwestern Arkansas was among the 27 areas that experts believe is unlikely to be as devastated by the impending recession as other areas in the country.

While the term "recession proof" is really an overstatement, the point is, that these areas have the combination of industrial and commercial growth along with the over job growth rates that suggest that the area may not be as prone to the negative effects of a recession as other areas where jobless rates and poor balance between Arkansas real estate and commercial, industrial, and service businesses may make it harder - much harder - to fight through economic hard times.

The effect on Arkansas real estate is largely uncertain, but the area is trending better in most cases than elsewhere. The effects of the mortgage crisis and home sales is certainly being felt, but Arkansas' largest corporation, Wal-Mart is a huge part of the reason that real estate prices on the whole have been more stable than in other areas.

Wal-Mart is the nation's largest retail chain and has always specialized in offering low prices on everyday products and goods, which caters to even more people during tough economic times. While most other stocks are falling rapidly, Wal-Mart stock neared a 52 week high during the first week of May. This stability is a great sign for the area and will help it to remain as "recession proof" as possible.

While the tough economic times are certainly not over yet, areas such as Northwestern Arkansas continue to remain areas of hope and may be able to give us a glimpse of some of the ways that other areas throughout the country can guard against this recession and work towards becoming more "recession proof" in the future. Arkansas real estate prices also set an example for the rest of the nation in regards to helping people fight through the mortgage crisis.
About the Author
Art Gib is a freelance writer. RE/MAX mid States and Dixie Regions is a leading real estate company specializing in Arkansas real estate, as well as real estate throughout the South.
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