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Oklahoma City and the Recession

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With the economy constantly changing (usually for the worst), some people may wonder how Oklahoma City is handling the recession.  Well, I’m pleased to report that we’re doing quite well.  In fact, Forbes.com actually named OKC it’s number one recession proof city. 

 

Many things back this up.  We haven’t had any major company shut-downs.  Instead, businesses have been moving into the area.  Half-Price Books, Cricket Mobile, and Panda Express have all opened new franchises in the area.  These new businesses are doing quite well, while local businesses are still going strong.  One thing that makes me really believe OKC is doing very well is that the Laredo’s Restaurant on Classen and 50th is actually going to open soon!  This building has been in the works for at least four years, with very little progress being made until recently.

 

The housing market is doing pretty well, too.  While I still see a good number of homes for sell, I’ve seen some go off the market after being listed for six months or more.  People are actually buying homes here, even if they aren’t as quick to jump into a new mortgage as they used to be. 

 

So while some cities around the nation and the world are experiencing recessions and watching business after business close, Oklahoma City is still going strong, and it looks like we’ll be staying that way for quite some time.

 

Want to read more about the recession and how it’s affecting OKC?  Check out these blogs.

 

The Disaster Investor quotes the Forbes.com article.

 

The Journal Record’s blog reports that OKC is not yet in a recession.

 

Real estate agent Rob Schaerer talks about the housing market in OKC.

 

InvestorCentric Blog has some thoughts on the Forbes article.

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