Keller WIlliams Luxury Logo
Home » Cities and People Most Exposed to Credit Crisis

Cities and People Most Exposed to Credit Crisis

by | Sep 30, 2008 | Luxury Market | 0 comments

Wall Street’s woes are going to have an impact on communities all over the country.

Not only because the $700 billion bailout will most likely result in higher taxes for most Americans, but because people who work in industries related to the financial sector will be vulnerable as companies make cutbacks.

The financial, insurance, and real estate sectors employ approximately 9.8 million people in the U.S., or nearly 7 percent of the entire American workforce.

New York may be the center of the financial market, but people in small cities could feel the downturn even more.

BusinessWeek identified the top-10 communities across the country that are most likely to be most affected by the financial crisis, based on how many people are employed in finance, real estate, and insurance, and leasing. To view a slideshow, click here.

Darien, Conn.: 27.23 percent employed in finance and real estate
Bloomington, Ill.: 26.31 percent
Hoboken, N.J.: 23.33 percent
West Des Moines, Iowa: 22.15 percent
Garden City, N.Y.: 20.22 percent
Summit, N.J.: 19.74
Westport, Conn.: 19.39 percent
University Park, Texas: 18.83 percent
Wethersfield, Conn.: 18.73 percent
Mountain Brook, Ala.: 18.66 percent

Source:Business Week (9/25/2008)

Recent Posts

Big Island Featured Restaurant & Activity for April

Big Island Featured Restaurant & Activity for April

Featured Activity: Kuleana Rum Works Mai Tais is one of Hawai`iʻ s iconic cocktails, but did you know Hawai`i Island is also home to Kuleana Rum Works, a company which crafts award-winning rum from the fresh juice of sugar cane grown on its farm in North Kohala? If...

read more
I’m the Short-Term Guy!

I’m the Short-Term Guy!

I took a phone call from a consumer this week and as we started the phone call, he said to me, “Hey, you’re the short-term guy”! At which I replied, “What?” He said, “Yeah, I watch all your YouTube videos on short term vacation rentals and they’re valuable...

read more
February Sales Stats for the Big Island Resort Areas

February Sales Stats for the Big Island Resort Areas

With the exception of Kūki`o, all the resorts showed some sales activity in February. Single digit home sales were reorded in Kohanaiki, Mauna Lani Resort and Kona Hills; Hualālai led the way with three home sales. In the condominium market, Kohanaiki and Waikoloa...

read more
Big Island Featured Restaurant & Activity for March

Big Island Featured Restaurant & Activity for March

Featured Activity: Hulihe`e Palace Maybe you’ve heard about it; maybe you’ve walked by it as you’ve strolled Ali`i Drive. If you are interested in Hawai`i’s history and you haven’t toured Hulihe`e Palace, perhaps you should. Hulihe‘e is a museum showcasing artifacts...

read more

Recent Listings

Call Now