THE EYES OF TEXAS ARE UPON YOU, or are they?
“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.
We are being watched. All the live long day.
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Entry filed under: Smart Real Estate.