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Fruit Cove: Town in danger from financial crisis?

By
Tiffany Griffith
@ November 6, 2008 4:40 PM
Permalink | Comments (0)
As Wall Street struggles, it could take a St. Johns County suburb down with it.

That's according to a new BusinessWeek survey that looks at where people in the finance and real estate industry live. And of the top ten towns across the country that could be hit the hardest, Fruit Cove came in at #9.

"This is a bit of a change, because now you're seeing more affluent communities that might be in danger," says Real Estate Writer Prashant Gopal.

He added that 20% of Fruit Cove residents work within the finance and real estate industry, but he says the study also doesn't speak very highly of Jacksonville, either.

"Jacksonville will get impacted by this financial crisis, and a lot of the people working in those banks live in places like Fruit Cove."

Gopal says strengthening the real estate market will reduce the risk.

 

Towns in danger from the Financial Crisis:

(According to BusinessWeek)

1. Darien, Conn. (27.23% of population in finance and real estate industry)

2. Bloomington, Ill. (26.31% of population in finance and real estate industry)

3. Hoboken, N.J. (23.33% of population in finance and real estate industry)

4. West Des Moines, Iowa (22.15% of population in finance and real estate industry)

5. Garden City, N.Y. (20.22% of population in finance and real estate industry)

6. Summit, N.J. (19.74% of population in finance and real estate industry)

7. Westport, Conn. (19.39% of population in finance and real estate industry)

8. University Park, TX (18.83% of population in finance and real estate industry)

9. Fruit Cove, Fla. (18.76% of population in finance and real estate industry)

10. Wethersfield, Conn. (18.73% of population in finance and real estate industry)



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