Recession-Proof City

Oklahoma City is top on the list for recession-proof cities, according to Forbes magazine.

Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly — or even contract — in the first half of the year.
But some cities are doing just fine.
Take Oklahoma City, Okla. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.

Despite some of its economic problems of the past, the city stands to gain from some smart business decisions by local business people, including the Oklahoma City group that purchased the Seattle SuperSonics. Also, local developer Grant Humphreys won the eBay bid for the famed Santa Monica Pier Ferris Wheel, which he had dismantled and having resurrected in Oklahoma City.

These are key developments for Oklahoma City, which often suffers from economic comparisons to cities in Texas, especially since the Dallas-Fort Worth Metropolitan Area is only three hours south of the city.