Nov. 28, 2007 - Columbus Ohio Economy

"Job growth offsetting foreclosures' impact on Columbus "economy" is the headline of an article in Business First Columbus written by Matt Burns.

Good news Columbus! It says the picture is grim for many cities but Columbus Ohio is not bearing the brunt of the foreclosure crisis Tsunami as it was painted in the announcements of the Foreclosure Forum that Columbus Mayor Coleman attended earlier this week. The communities with the darkest outlook are experiencing job losses.

The Business First Columbus article after the Foreclosure Forum says: Copyright 2007 Discover Columbus and Maureen McCabe

"A report issued for a national mayor's conference this week painted a grim picture for many cities across the U.S. resulting from the nation's foreclosure crisis, but Columbus wasn't one of them.

Greg Davies, deputy director of the city's development department, said the lack of a potential GDP loss is less an indication of Columbus' relationship to the foreclosure crisis and more a gauge of how job growth has offset it.

"I think it speaks to the strength of the city," Davies said. "Columbus, even though Ohio continues to lose jobs, continues to gain jobs ... and the cities hit the hardest in (the report's) predictions have been losing jobs."

More good employment news from Business First Columbus "Columbus October unemployment lowest in state"

Columbus Housing Market is Stable.

The Business First Columbus Article said that despite the good news on jobs foreclosures are still a problem in Columbus and Davies said:

"We're trying to make people realize this is not just happening in decaying neighborhoods but in middle-class neighborhoods," he said. "People need to wake up and realize this is not just the result of somebody making a bad decision... It's a huge problem that needs to be tackled."