DAILY REAL ESTATE NEWS, www.realtor.com
Nearly every city in the U.S. is expected to see economic growth in 2014, according to a new report by the U.S. Conference of Mayors. The city expected to lead the country in economic growth and job gains is Naples, Fla.
Other large cities expected to see big growth this year: Raleigh, N.C.; Atlanta; and Austin, Texas, according to the report, which was conducted by IHS Global Insight.
Cities that were hit hard by the decline in manufacturing or the housing crisis are also forecasted to see a big turnaround. For example, Youngstown, Ohio, and Buffalo, N.Y., are expected to see economic growth of 1.6 percent and 1.5 percent, respectively.
“The key thing in the northeast was the stabilization of housing,” says Jim Diffley, a senior director at IHS and lead author of the report. “When prices normalized and people weren’t underwater anymore, small but positive job growth has been able to stimulate spending.”
One of the biggest turnaround towns is expected to be Shreveport, La., which, the report shows, will grow by 1.6 percent after a 5.2 percent decrease last year.
College towns, such as Austin, Charlottesville, Va., and Lawrence, Kan., are expected to be…. CLICK HERE FOR FULL ARTICLE
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