Wow, just read an article about the future of some former boom towns in terms of their real estate....not pretty. It makes Central Texas real estate around Austin, Lake Travis, Marble Falls, Horseshoe Bay look even better all the time.
"Celia Chen, a housing economist with Moody’s Economy.com, predicts that a full recovery in parts of California, Nevada, Arizona and Florida won’t occur until 2030. “The housing boom elevated home prices in a number of areas far, far above what can be supported by the economic fundamentals, and so prices have fallen significantly, and they will remain below their previous peaks easily for a decade, or even two decades,” Chen said." Full Article
An article on 1/7/11 from the Austin Business Journal indicates that a recent Forbes study shows that Austin has the 3rd best job market nationwide. Austin shows up on Forbes lists often lately - The publication ranked Austin No. 1 last year for economic recovery, 8th best for business and careers, No. 2 most innovative and 10th best place for best cities for young professionals, among other rankings.
Showing posts with label austin economy. Show all posts
Showing posts with label austin economy. Show all posts
Monday, January 10, 2011
Sunday, July 4, 2010
Austin - 1 of the 10 Most Recession Proof Cities according to Metro Monitor - Brookings Institute
Thinking of buying a home in Austin? Thinking of moving to the Austin area? Here's one more reason to move to Austin.... It's a wonderful place to live, work play & invest!
Contact us for a FREE relocation package from Paragon Property Group, Coldwell Banker United Realtors(r) 866-693-7741 or contact me at suemellett@yahoo.com
Daily Real Estate News | June 28, 2010 |
10 Most Recession-Proof U.S. CitiesContact us for a FREE relocation package from Paragon Property Group, Coldwell Banker United Realtors(r) 866-693-7741 or contact me at suemellett@yahoo.com
Daily Real Estate News | June 28, 2010 |
The most recession-proof cities didn’t see home prices surge in the first place, says the MetroMonitor, a quarterly report released by Brookings Institute's Metropolitan Policy Program.
MetroMonitor identified 21 large metro areas that have enjoyed robust economies and stable labor and housing markets in the last few years.
"Most of these cities have some general characteristics in common," says Howard Weil, author of the report and a fellow at the Metropolitan Policy Program. "They didn't experience huge housing bubbles followed by a crash, and their economies weren't rooted in the auto industry."
The top 10 stable cities identified by MetroMonitor are:
1. Albany, N.Y.
2. Augusta, Ga.
3. Austin, Texas
4. Baton Rouge, La.
5. Buffalo, N.Y.
6. Columbia, S.C.
7. Dallas
8. Des Moines, Iowa
9. El Paso, Texas
10. Honolulu
Source: CNNMoney.com, Hibah Yousuf (06/24/2010)
Wednesday, June 16, 2010
Austin #1 in Forbes Article
Another great Milestone for Austin from Forbes: Austin anks high in many lists of cities on economic vitality, quality of life and other factors. The city adds another No. 1 ranking to its collection, thanks to Forbes magazine, which says Austin has the fastest-growing economy among 100 large metro areas.
According to Forbes, Austin's gross domestic product will grow 32 percent from 2007 to 2012, with a 15 percent population growth.
Factors were at play: a strong tech employment base, a steady stream of talent from the University of Texas, and a thriving music and film industry to bolster the city's reputation as a haven for creative types.
Austin and the Central Texas Hill Country are a great place to Live, Work, Play & Invest! Contact us for more information about Austin area Real Estate or for a FREE Relocation Package.
Sue Ellett, Broker-Associate
Paragon Property Group Team
Coldwell Banker United Realtors
512-422-7182
According to Forbes, Austin's gross domestic product will grow 32 percent from 2007 to 2012, with a 15 percent population growth.
Factors were at play: a strong tech employment base, a steady stream of talent from the University of Texas, and a thriving music and film industry to bolster the city's reputation as a haven for creative types.
Austin and the Central Texas Hill Country are a great place to Live, Work, Play & Invest! Contact us for more information about Austin area Real Estate or for a FREE Relocation Package.
Sue Ellett, Broker-Associate
Paragon Property Group Team
Coldwell Banker United Realtors
512-422-7182
Friday, March 19, 2010
Articles about Austin - Good News for our Area
Facebook Marks Fourth Win for Austin Chamber Economic Development Efforts in 2010
Last week, the Austin City Council approved economic incentives paving the way for Facebook to officially move forward with plans to develop operations in Austin. In their first major U.S. expansion out of current headquarters Palo Alto, CA, Facebook plans to create 200 jobs for Central Texans with the location of an online sales and operations office.
“We are delighted to formally announce that Facebook will open an online sales and operations office in Austin,” said Grady Burnett, Director of Global Online Sales and Operations at Facebook. “The area’s world-class educational system and talented workforce give us the means to quickly establish a strong outfit. We also want Facebook employees to have a high quality-of-life by being part of a vibrant, dynamic environment and Austin offers all of that and more. We look forward to building our team here in Austin and enjoying all the wonderful things the city has to offer.”
The Austin Chamber worked confidentially with Facebook during their search to find a location for their expansion, encouraging the diversification of the Austin metro economy. Opportunity Austin, the Austin Chamber’s economic development initiative to expand efforts to attract businesses in industries that complement the area’s workforce, such as clean energy, life sciences and digital media, has remained an important factor in Austin’s success with economic growth and development initiatives
Source: Austin Chamber of Commerce
Nominate Austin for Google’s “Fiber in Communities”
Google is on the hunt for dynamic cities to locate their experimental, ultra high-speed fiber network pilot project. The Austin Chamber, along with the Austin community, is responding in a big way, spreading the word for individuals and community organizations to make their voice heard. We know Austin has the ideal business and creative climate, the high-tech credentials and tech-savvy culture to host this transformative initiative, but what we need to do now is make sure Google understands that Austin is the ideal community!
What we need is for you - either as an individual or as a community group - to complete the "community application" by visiting www.biggigaustin.org and clicking the nominate Austin link before March 26. It's easy! Note: You must have a Google e-mail address to nominate Austin. This advanced network will provide households up to a hundred times the speed of ordinary broadband internet access, enabling a new generation of online applications and services.
Build community support by joining the Facebook group and Twitter feed, take a look at the interactive map and the YouTube channel, see what other people are writing about biggig and submit your own ideas online. Help us show Google why Austin is ready for the Big Gig!
Source: Austin Chamber of Commerce
Central Texas Economy In Perspective
By Beverly Kerr, Chamber Vice President of Research
Year-to-date data on sales tax allocations to local governments, that is, total dollars returned to a local sales taxing city, county, special purpose district or transit authority by the Texas Comptroller for their local sales tax collection, are showing distinct improvements in the Austin area compared to other parts of the state. Of Texas 20 largest cities, with data through March 2010, Round Rock has seen the greatest increase over 2009, with 3.53%, followed by Austin, with 3.34%. Only 4 other cities in the top 20 also saw positive growth. In aggregate, sales tax allocations for all cities across Texas are down 7.90%.
The metro’s four largest sales and use tax jurisdictions all saw total allocations for 2009 below those of 2008: -3.2% for San Marcos, -9.8% for the Austin Metropolitan Transit Authority (MTA), -10.6% for Austin, and -12.4% for Round Rock.
Cities in Travis County are seeing a mix of positive and negative growth, but in aggregate, sales tax allocations are up 2.92% year-over-year for cities in the county. Austin accounts for 87% of the sales tax allocations to cities in the county. Among the other larger cities (in terms of size of sales tax allocations), Pflugerville is up 10.99%, Bee Cave is up 1.44%, while Sunset Valley is down 4.36%. Williamson County’s cities are positive in aggregate, driven by Round Rock which accounts for 64% of city allocations, by 1.01%. The next two most significant cities are Georgetown which is down by just a fraction of a percent, 0.05%, and Cedar Park, which is down by 8.75%.
The Austin MTA is the metro’s largest sales tax jurisdiction in terms of total sales tax allocations ($36.3 million year-to-date) and it is also up compared to the first three months of 2009, but just by 0.08%. However, none of Texas’ other MTAs saw positive growth for the period.
After Austin MTA, Austin, and Round Rock, San Marcos is the region’s next largest jurisdiction for sales tax allocations and it is down slightly, by 0.50%. In aggregate, Hays’ County’s cities are down by 0.09%. Caldwell County’s cities are down by 5.05%. Bastrop is up 6.64% and in aggregate the cities in Bastrop County are up 3.86%.
Three of our counties, Bastrop, Caldwell, and Hays, also collect sales tax. Across the state, county sales tax allocations are down 14.26%, however in this metro, Hays’ allocations are up 0.90% and Bastrop’s up 1.29%, while Caldwell’s are down by 9.04%
The Texas Comptroller publishes this data in two forms useful for a range of analysis: Sales Tax Allocation Comparison Summary Reports provide current month and year-to-date comparisons of sales and use tax payments for all tax jurisdictions for the current and previous year and Allocation Historical Reports provide time series of annual and monthly numbers back to 1987 for all taxing jurisdictions. The Comptroller also publishes wider ranging up-to-date economic outlook and key economic indicators data for Texas.
Last week, the Austin City Council approved economic incentives paving the way for Facebook to officially move forward with plans to develop operations in Austin. In their first major U.S. expansion out of current headquarters Palo Alto, CA, Facebook plans to create 200 jobs for Central Texans with the location of an online sales and operations office.
“We are delighted to formally announce that Facebook will open an online sales and operations office in Austin,” said Grady Burnett, Director of Global Online Sales and Operations at Facebook. “The area’s world-class educational system and talented workforce give us the means to quickly establish a strong outfit. We also want Facebook employees to have a high quality-of-life by being part of a vibrant, dynamic environment and Austin offers all of that and more. We look forward to building our team here in Austin and enjoying all the wonderful things the city has to offer.”
The Austin Chamber worked confidentially with Facebook during their search to find a location for their expansion, encouraging the diversification of the Austin metro economy. Opportunity Austin, the Austin Chamber’s economic development initiative to expand efforts to attract businesses in industries that complement the area’s workforce, such as clean energy, life sciences and digital media, has remained an important factor in Austin’s success with economic growth and development initiatives
Source: Austin Chamber of Commerce
Nominate Austin for Google’s “Fiber in Communities”
Google is on the hunt for dynamic cities to locate their experimental, ultra high-speed fiber network pilot project. The Austin Chamber, along with the Austin community, is responding in a big way, spreading the word for individuals and community organizations to make their voice heard. We know Austin has the ideal business and creative climate, the high-tech credentials and tech-savvy culture to host this transformative initiative, but what we need to do now is make sure Google understands that Austin is the ideal community!
What we need is for you - either as an individual or as a community group - to complete the "community application" by visiting www.biggigaustin.org and clicking the nominate Austin link before March 26. It's easy! Note: You must have a Google e-mail address to nominate Austin. This advanced network will provide households up to a hundred times the speed of ordinary broadband internet access, enabling a new generation of online applications and services.
Build community support by joining the Facebook group and Twitter feed, take a look at the interactive map and the YouTube channel, see what other people are writing about biggig and submit your own ideas online. Help us show Google why Austin is ready for the Big Gig!
Source: Austin Chamber of Commerce
Central Texas Economy In Perspective
By Beverly Kerr, Chamber Vice President of Research
Year-to-date data on sales tax allocations to local governments, that is, total dollars returned to a local sales taxing city, county, special purpose district or transit authority by the Texas Comptroller for their local sales tax collection, are showing distinct improvements in the Austin area compared to other parts of the state. Of Texas 20 largest cities, with data through March 2010, Round Rock has seen the greatest increase over 2009, with 3.53%, followed by Austin, with 3.34%. Only 4 other cities in the top 20 also saw positive growth. In aggregate, sales tax allocations for all cities across Texas are down 7.90%.
The metro’s four largest sales and use tax jurisdictions all saw total allocations for 2009 below those of 2008: -3.2% for San Marcos, -9.8% for the Austin Metropolitan Transit Authority (MTA), -10.6% for Austin, and -12.4% for Round Rock.
Cities in Travis County are seeing a mix of positive and negative growth, but in aggregate, sales tax allocations are up 2.92% year-over-year for cities in the county. Austin accounts for 87% of the sales tax allocations to cities in the county. Among the other larger cities (in terms of size of sales tax allocations), Pflugerville is up 10.99%, Bee Cave is up 1.44%, while Sunset Valley is down 4.36%. Williamson County’s cities are positive in aggregate, driven by Round Rock which accounts for 64% of city allocations, by 1.01%. The next two most significant cities are Georgetown which is down by just a fraction of a percent, 0.05%, and Cedar Park, which is down by 8.75%.
The Austin MTA is the metro’s largest sales tax jurisdiction in terms of total sales tax allocations ($36.3 million year-to-date) and it is also up compared to the first three months of 2009, but just by 0.08%. However, none of Texas’ other MTAs saw positive growth for the period.
After Austin MTA, Austin, and Round Rock, San Marcos is the region’s next largest jurisdiction for sales tax allocations and it is down slightly, by 0.50%. In aggregate, Hays’ County’s cities are down by 0.09%. Caldwell County’s cities are down by 5.05%. Bastrop is up 6.64% and in aggregate the cities in Bastrop County are up 3.86%.
Three of our counties, Bastrop, Caldwell, and Hays, also collect sales tax. Across the state, county sales tax allocations are down 14.26%, however in this metro, Hays’ allocations are up 0.90% and Bastrop’s up 1.29%, while Caldwell’s are down by 9.04%
The Texas Comptroller publishes this data in two forms useful for a range of analysis: Sales Tax Allocation Comparison Summary Reports provide current month and year-to-date comparisons of sales and use tax payments for all tax jurisdictions for the current and previous year and Allocation Historical Reports provide time series of annual and monthly numbers back to 1987 for all taxing jurisdictions. The Comptroller also publishes wider ranging up-to-date economic outlook and key economic indicators data for Texas.
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