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Anchorage Alaska Economy: Not So Scary

By
Real Estate Agent with Prudential Jack White/Vista Real Estate

The economy is not so scary here in Anchorage, Alaska .

This Halloween season there are more than scary costumes to put our nerves on edge.  For all of us, the national and global economy reports have become scary in themselves. I am happy to report that here in Anchorage and the State of Alaska things seem to be not so scary after all.

A recent news release by our Mayor Begich's office states that Anchorage has been named one of the Top cities in the nation to weather the current economic storm. As cited by the article, both Business Week and the Wall Street Journal have reported on the strength of Anchorage 's economy. Reasons cited were energy demands, tourism, and military presence. The Mayor's office added Anchorage 's fiscal responsility to the list.

While other cities have reported loss of jobs and higher unemployment statistics, Anchorage 's unemployment rate has decreased in the past year.

While other cities have struggled with the housing recession and the deflation of home prices, the real estate values in Anchorage have not only maintained their value, but have also increased in value as well. Anchorage , Alaska 's real estate is being considered as a wise investment even for those in the lower 48.

While other cities and states have experienced further turmoil with loss of property taxes due to the high rate of foreclosures and decrease in property values, our city has been able to lower property taxes for its property owners without sacrifice and while maintaining growth.

While other cities and states' budgets reach crisis levels with lots of "red ink", the Anchorage budget has remained balanced and in the "black".

While other cities are cutting back on services and implementing city government layoffs, Anchorage is still servicing its citizens with quality services and its employees are secure, knowing they have a job in the morning.

I am not saying that there will be no economic repercussions here in the state of Alaska or in Anchorage . I am saying that we are positioned well to weather the storm and that the economy is not quite as scary in Anchorage as elsewhere.

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