Why Albuquerque Keeps Ducking the Worst

I've been saying that New Mexico normally does better during economic downturns then the rest of the country. In fact, according to Lee Reynis, director of UNM's Bureau of Business and Economic Research, "We have almost never had a recession here.... Rarely does employment growth turn negative." If we were to follow the rest of the country into a recession, it would be the first time since the 1950's.

One other note: foreclosures in New Mexico were down 26% in 2007 vs. 2006. Just four other states followed our example: Oklahoma, Pennsylvania, South Carolina and Utah. At the other end of the spectrum: Texas, Colorado, Arizona and Nevada were among the top 10 in foreclosures.

I said quite some time ago that we always seem to 'muddle' through. You are looking at a typical NM muddle :).