THE EYES OF TEXAS ARE UPON YOU, or are they?

August 30, 2010 at 6:26 pm Leave a comment

Austin Skyline at sunrise “The eyes of Texas are upon you” is a bit backwards for real estate and the economy right now. Word is that the eyes of the country are upon Texas.

Mark Dotzour, Chief Economist of the Real Estate Center at Texas A&M University, spoke in Austin earlier this month addressing a review of the TX economy at RECA’s 10th Annual Mid-Year Economic Forecast. Dotzour is considered one of the leading economic voices in Texas.

LEAD One of his main points is that Austin leads the way for the economic recovery in the US. The country is watching us very closely.  How is that for a little weight on our shoulders?

Why is this?  1.) LOFI … Austin was the last in to this mess and we’ll be the first out, and 2.) banks.  Texas banks are solvent and are lending for commercial TI (tenant improvements … funds not available in other cities and companies need this funding to get started), our commercial environment is positive, we have space at bargain prices. We are ripe for companies and industry to move to Austin.

Jan Hill with WR Starkey Mortgage in Austin puts it this way … we are the leading edge indicator of how US citizen’s feel. If people here have confidence, the confidence will spread. If we shrink and hide, we are in fact responding to how everyone else feels.

HIGHPOINTS

  • TX banks are strong
  • TX has 3 months in a row of positive annual employment growth
  • National corporate profits are up
  • National household debt service is declining
  • Pent up demand from businesses that have postponed decisions & are sitting on cash
  • Pent up demand from consumers who have postponed decisions
  • Austin population projected to grow 2% next year
  • Austin job growth is at 2.3%
  • 3% job growth projected for 2011 (this is huge)
  • We are being watched.  All the live long day.

    The Nelson Project at Keller Williams Realty in Austin strives to provide valuable real estate information, insight and news through this blog and our other online resources.  Find more about The Nelson Project and searching for Austin homes at www.TheNelsonProject.com. if you like this blog, you may want to visit our totally useful Austin neighborhood portal.  We think you may also like www.tacomap.info (tacos first, real estate second).  If you really like what you see, tell your friends to call us with all their Austin real estate needs.

    © Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

    Technorati Tags: ,

    Advertisements

    Entry filed under: Smart Real Estate.

    Real estate expectations for the next decade Mega Agent Camp in Austin 2010 – Dining For Life

    Leave a Reply

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s

    Trackback this post  |  Subscribe to the comments via RSS Feed


    Email Us

    Call US
    512-848-5881

    Categories

    © Julie Nelson and The Nelson Project at Keller Williams Reatly, 2016-2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

    %d bloggers like this: