New Orleans Economic Recovery Number One in US

New Orleans Real EstateNew Orleans continued to fare better than any other metro area in the U.S. in recovering from the recession during the third quarter of 2012, according to a report released Wednesday by the Brookings Institute. That same report put Baton Rouge in the middle of the pack in terms of the comeback, coming in 52nd out of the 100 largest cities.

This is the third quarter in a row New Orleans was the top-performing metro area in the Brookings MetroMonitor report, which measures factors such as unemployment, home prices and output, measured against a city’s lowest economic point.

Unlike most other U.S. metros, which bottomed out during the recession in 2009, the low point for the Crescent City economy came after Hurricane Katrina in 2005. The massive ongoing hurricane recovery and rebuilding efforts provided a boost to the city during the national recession.

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Authored By Timothy Boone – See the Full Story at The Advocate

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