This has not been the best week for economic news. The housing market lapsed back into a double-dip. The May jobs report showed the slowest private sector employment growth this year, with the average length of unemployment hitting its highest level on record.
But on all these indicators and more, Greater Washington DC flies in the face of the national trend. Iâ€™m not exaggerating:
- Metro DC clocked the highest level of housing appreciation on the Case-Shiller Home Price Index, 4 plus percent, while every other metro is tanking.
- Greater Washington posted the second lowest rate of unemployment according to the latest BLS figures, 5.4 percent, as many metros remain above 10 percent.
- And DC households boast the nationâ€™s second highest real household income, $61,449, when cost of living is taken into account, considerably more than Greater New Yorkâ€™s $34,931, which is the nationâ€™s second lowest. Only McAllen-Edinburg-Mission, Texas fares worse.
Then thereâ€™s the icing on the cake. Just to add insult to injury, DC takes first place again – on the North American Vexillological Associationâ€™s survey of the best city flag. Like the rapper Kâ€™naan says, â€śSo wave your flag, now wave your flag, now wave your flag!â€ť
Take that other cities!