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Forbes Magazine Article Names Austin, Texas #3 on its "recession proof cities" list

Once again, Austin, Texas has made national news. Forbes.com has named Austin #3 on its new list of "Recession Proof" cities. The top two cities were Oklahoma City and San Antonio, TX.

The top 50 largest metro areas were ranked on a scale using three major factors, namely:

  1. Unemployment rate - Which areas added the most jobs over the past year?
  2. Real estate prices - Which areas posted the largest annual gains in median home price over the past year?
  3. Gross metropolitan product growth - How would rising foreclosures and falling home prices affect overall levels of productivity in the local economy?

Among the statistics cited were the following:

  • Austin's low unemployment rate of 3.6%
  • The median home price in Austin remains under $200,000, and it rose over 6% this past year
  • Texas cities are much easier to afford for a large percentage of the population, since there is still a lot of open land.

For the full list, along with the entire text of the article, visit:

http://www.forbes.com/2008/04/29/cities-recession-places-forbeslife-cx_jz_0429realestate.html

If you have any questions about Austin, please give me a call anytime at 512-796-7653 or email jason@austintexashomes.com.

If you are looking to relocate to the Austin/Round Rock vicinity, you might be interested in checking out my online relocation package here:

  • Austin Texas Relocation Package

    Our Austin real estate website is at http://www.austintexashomes.com/. I look forward to hearing from you soon!

    • Posted Wednesday May 14
    ( 05/14/08 04:16PM ) — Marchel Peterson Spring TX Real Estate E-Pro ABR

    Jason, it looks like all of our big Texas cities made it to that list.  That is great news for Texas but we all know Texas is a great place to live.

    ( 05/14/08 04:20PM ) — Jason Sardi, Mortgage Banker

    Crouch - Wow, I'm going to check out that article.  Talk about a selling point on reasons to relocate to your area!

    ( 05/14/08 04:20PM ) — Ron Tarvin, REMAX, WHP Katy/Cypress TX Luxury Homes for Sale, Family homes too

    I saw this and wrote about it.  Houston, Dallas, Austin and San Antonio were all on that list out of TEN...that's not bad that one state has 40% of the "recession proof" cities named.

    ( 05/14/08 04:22PM ) — Tom Burris | Texas Mortgage Dallas Mortgage FHA

    I still hear the occassional story of homes going for 'over list price' down there. What a great position to be in right now!!!

    ( 05/14/08 04:26PM ) — L. Wayne Denton I HAVE A HANDLE ON YOUR MARKET! ! !

    Real good post.  I like the way  you present.  Must have something to do with the poetry in the family.

    ( 05/14/08 04:29PM ) — Wendy Montoya Waco, TX Real Estate, 254-315-4906

    Yet another positive plug for TX. TX truly is a great place to live, and play. Thanks for the post. Very interesting information.

    ( 05/14/08 04:38PM ) — Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes

    Jason- One of my sons has been wondering where he would like to settle down. He hates Florida. All my kids curse me for bringing them to Florida. One person's paradise is another person's hell. He is in Austin and fell in love with your downtown and the youngness of Austin. He likes the cool nights too. I think he has decided to move there.

    ( 05/14/08 04:43PM ) — Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653)

    Katerina - Thanks again for sending your son to me.  I will do my best to find him the right place!

    ( 05/14/08 04:52PM ) — Melody Botting Real Estate Network

    Texas is awesome!  I love living and working here.  I cannot imagine living anywhere else.  (Actually, CA is #2 choice).

    ( 05/14/08 05:03PM ) — Lisa Hill (Daytona Beach Real Estate)

    Hmm. I think I'll move to Austin and compete against you =P I'm just yanking your chain.


    This is great news for you and your market I assume? Have your real estate value dropped very much?

    ( 05/14/08 05:11PM ) — Margaret Woda, Maryland Real Estate

    Congratulations, Austin!  This will give you some good fodder for blogs and market, Jason!

    ( 05/14/08 05:16PM ) — Jason Crouch, Broker - Austin Texas Real Estate (512-796-7653)

    Lisa - It is terrific news for us (at least I hope).  The values here continue to increase, but there is less overall activity.

    ( 05/14/08 06:04PM ) — James Jeter - The Credit Repair Guy

    Considering all the terrible things that are going on outside of the state in the real estate market and economy as a whole, it's great news that Texas is doing well.  And don't forget:  NO STATE INCOME TAX! 

    ( 05/14/08 10:29PM ) — Mesa, Arizona Real Estate *** Teri Ellis, Broker, ABR,CRS,GRI,ePRO,MRE

    Hey Jason, where did your orange shirt go? ;-)  No wonder everyone is relocating to Texas! Prices are lower there! That's great for your business! ;-)


    Pepper

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