We already knew from experts that Arlington would likely dodge a bullet, relatively speaking, during the next recession. But it’s good to hear some reinforcement of that on a day that the stock market is down nearly 5%.
At one point today, amid coronavirus fears and plummeting oil prices, the Dow was down more than 2,000 points. Trading was halted for 15 minutes due to the massive drop.
Trading in New York resumes, Dow Jones Industrial Average session losses increase to more than 2,000 points https://t.co/2JarXSDy5b pic.twitter.com/FEWli8YP4E
— Bloomberg Markets (@markets) March 9, 2020
On the bright side, Arlington — thanks to its large federal and military employment base, and professional services sector that’s more able to work from home — is better positioned than most to weather a pandemic-induced recession.
None of those factors went into the new rankings from the website SmartAsset, however.
SmartAsset looked at factors related to employment, housing, and social assistance in ranking Arlington County No. 15 on its list, behind #1 Frisco, Texas, among other mostly smaller cities. Our neighbor to the south, Alexandria was No. 23, on the list.
“The Great Recession wreaked havoc on the U.S. economy, with unemployment peaking at 10.1% in October 2009,” a SmartAsset spokesperson said, in introducing the rankings. “Not all cities, however, were hit equally by this economic crisis and some are better equipped to weather the next downturn.”
Update on Delayed Rosslyn Development — “The approved Arlington County site plan setting up the eventual demolition of two obsolete office buildings — one home to the Deep Throat garage…
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Please join us on Saturday, June 3, from 2 to 4 pm for the Glencarlyn Home Tour in Arlington’s historic Glencarlyn neighborhood. Among the featured homes will be a sparkling new home by A&N Builders at 5604-4th St. South. The inviting front porch opens to a light-filled space featuring high ceiling, wood floors, gas fireplace, Pella windows, Shrock cabinets, Quartz countertop, and JennAir appliances. Doors from the family room open to a large covered porch with a few steps to the level, landscaped rear yard. Upstairs, there are four bedrooms, three bathrooms, laundry room, and linen storage. The big lower level has a rec room, gym space, and a fifth bedroom and bathroom plus even more storage. After leaving the home, stroll to the Ball-Sellers home, the oldest residence in Arlington, the community gardens at the library, Carlin Hall, and the 94 acre Glencarlyn Park. A lovely way to while away a late spring afternoon.
Is home ownership a goal of yours in 2023? Now is the time to make it happen! Grab a (virtual) drink with the area’s top Real Estate experts, learn all about the home buying process and on how you can get $1,500 towards your closing costs immediately!
Did you know the average Arlington renter will spend $150K in 5 years of renting? Stop paying down someone else’s mortgage! Join us for a Rent vs. Buy Happy Hour on Wednesday, June 7th at 6 p.m. via Zoom. If this time doesn’t work, we also are offering times convenient for your schedule!
A lot has happened in the local market since the beginning of the pandemic. Sip on your drink of choice and learn from Northern Virginia, Arlington and Washingtonian Magazines top producing agents! We will discuss the latest market updates, the home buying process and rent vs. buy cost savings. Please RSVP by clicking here.
Call/text Manavi at 703-869-6698 with any questions!
Homebuying 101: Steps to Getting Pre-Approved
Are you ready to jump into homeownership or started considering it but don’t know where to start? Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved.
Join ACFCU’s mortgage loan officers
4th of July Celebration & Fireworks
Treat yourself this Independence Day with a world-class, private 4th of July extravaganza at the Military Women’s Memorial – a premier National Capital Region site.
Great food, fun, and the best views of Washington DC’s spectacular fireworks display. Relax, enjoy,