Lincoln, Wichita, Fargo, Victoria, Knoxville, Tulsa, and Des Moines. These 7 cities share the distinction of being "recession-proof," according to a new study by Livability.com.
Many of these cities are part of the Silicon Prairie, including top-ranked Lincoln, Nebraska, and Des Moines, Iowa. The Hawkeye State claims a bustling tech startup ecosystem, was one of the top cities for tech hiring in 2018, and is one of Livability's top up-and-coming tech hotspots. As well, Des Moines has lower annual budget volatility than the national average, and has more in reserves than other states, according to recent Pew Charitable Trusts analysis. In terms of affordability, Des Moines' unemployment rate grew 1.2 percent during the last recession, and housing prices changed only 0.1 percent.
A recession may be looming in America’s near future, and you don't have to take our word for it: A recent Duke survey polled more than 500 chief financial officers across the U.S., and nearly half of them believed there will be a recession by the end of this year, with an even higher number — 82 percent — predicting a recession by the end of 2020. Signs of an impending economic downturn are appearing everywhere — from slumping numbers on Wall Street to decreasing demand for American goods in other parts of the world.