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Recession Briefing 10.23: Cities Least Hit by Recession

What you need to know today to survive and thrive in the recession.

America’s strongest economies through the recession have one thing in common — home prices that never got too hot or too cold. Here are the 40 cities in America least touched by the recession. (BusinessWeek)

A broad majority in a new Washington Post-ABC News poll say the worst recession in generations is not over, and most remain worried about the direction of the economy and their own financial futures. (Washington Post)

A top White House economist says spending from the $787 billion economic stimulus has already had its biggest impact on economic growth and will likely not contribute to significant expansion next year. (Associated Press)

Hundreds of millions of dollars may have been paid to people who fraudulently or mistakenly took advantage of a lucrative tax credit for first-time home buyers, including some who were employees of the Internal Revenue Service and even children. (Washington Post)

As we begin the long climb out of the Great Recession, a question presents itself: How will this experience shape this generation’s minds and habits going forward? (SmartMoney)

Initial data on British third-quarter growth showed the economy there remained mired in recession. The British economy has now contracted for six successive quarters, making this the longest downturn since the Office of National Statistics started its data series in 1955. (New York Times)

With homebuyers rushing to complete their purchases before a tax credit for first-time owners expires, a report Friday is expected to show strong September sales. (USA Today)

Increasingly alarmed over bleak employment forecasts, the Obama administration is searching for ways to boost job growth without adding to the federal budget deficit. (Wall Street Journal)

U.S. officials contemplating an exit from record fiscal stimulus are in danger of repeating mistakes that plunged Japan into its lost decade of stagnant growth, according to Richard Koo of Nomura Research Institute Ltd. (Bloomberg)

Even before the Obama administration formally tightened executive compensation at bailed-out companies, the prospect of pay cuts had led some top employees to depart. (Washington Post)

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Tags: bailout, economy, politics, real estate