Tuesday, June 24, 2008

According to Forbes, Austin is "Recession Proof"


"3. Austin, Texas
Median home price: +6.4%
Unemployment: 3.6% (from 3.8%)
Key growth: Natural resources and construction, +5.1%; leisure and hospitality, +5.3%
One of the hippest cities in the country has one of the lowest unemployment rates. The Austin region is home to Dell, and many tech companies from Apple to Sun Microsystems also maintain a significant presence. One difference between "Silicon Hills," as some call Austin's tech sector, and Silicon Valley? In Austin, the median home price is still under $200,000."

Click here to see which other cities made the list.
Forbes announced that Austin is among a list of cities that they consider "Recession Proof". They factor in things like the stats above- Unemployment Rate, Median Home Price and different industries that make up the local work force. This is nothing but good press and Austin gets this kind of advertising on pretty much a daily basis. As I have said in previous posts, the more people that would like to live hear is what drives businesses to base their operations here and directly influences current and future home prices to increase. What a great way to build your investment. What do you think?

2 comments:

  1. I like your positive outlook on Austin Real Estate. As Gary Keller said on CNBC recently, there is no such thing as a national real estate market.

    Areas of Austin are booming - certain areas have low inventory and I have listings getting multiple offers!

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  2. Good point Garreth I have been having a similar experience. Some areas in Austin are really doing great. Thanks for the comment.

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