San Antonio and Austin Rank Tops in List of Fastest-Recovering Cities

Thursday, December 3rd, 2009

Forbes has recently come out with their list of America's Fastest-Recovering Cities. Amongst the top of the list is San Antonio, Texas and Austin, Texas, with San Antonio ranking 2nd and Austin ranking 3rd, Omaha Nebraska was ranked 1st. Forbes says that a "diversified industry and relatively stable housing give residents in these metros a measure of economic security." Certainly an area does need jobs: but we also need a good, stable housing market.

The Omaha area has seen a fairly healthy healthy 1.3 percent "gross metropolitan product" (GMP) growth over the past year. And what's even better is that Omaha has a very low home foreclosure rate. In Omaha, they have been averaging one foreclosure in every 3,246 homes. Forbes says that they put Omaha on the top of the list because of Omaha's unemployment rate, which is currently at about five percent.

San Antonio, Texas is home to four military bases and Austin is the Capital of Texas. Many jobs in the area are fairly stable, and there's a thriving technology sector here in Texas. That helped Forbes pick San Antonio and Austin for the list, but they went on to say that the Texas "housing prices never ascended to the unsustainable levels the rest of the country hit at the peak of the housing bubble. Thus, it didn't crash as hard.

These factors have toughened the local economy against a recession that is inextricably tied to real estate." Here in Texas, there has not been a huge real estate boom that the rest of the country has seen: so the real estate market didn't have a long way to fall. Remaining stable has been an asset, thus helping San Antonio and Austin to do well in this list of Forbes' Fastest-Recovering Cities in America.

The San Antonio and Austin, Texas areas' housing markets continue to be a good stable investment, just as they have been for many years. Bluegreen Communities has several premier properties throughout the State of Texas that are excellent examples of the best of what Texas real estate has to offer. These include Vintage Oaks at the Vineyard, The Bridges at Preston Crossings, Havenwood at Hunters Crossing, Lake Ridge at Joe Pool Lake, King Oaks, Mystic Shores at Canyon Lake, Quail Springs Ranch, Saddle Creek Forest, and The Reserve at SugarTree.

Posted in: Texas Economy
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