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!

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