4 Texas Cities Feeling Ease In Recession

According to a recent Forbes article, Texas has four of the the ten cities where the recession is easing. Below is a passage from the article:

Good Fortune In The Lone Star State

Downtown AustinIf one state is a poster child for economic recovery, it’s Texas, home to four of the 10 cities on our list. There’s more to why Austin, Dallas, San Antonio and Houston are faring well than just the state’s energy industry. The tech, government and education industries supplement the oil state’s riches. As for housing, cities in Texas didn’t see the same run-up in home prices and rampant speculation that led to the spectacular bubble burst elsewhere in the country.

“The housing market got lucky, if you want to look at it that way,” says James P. Gaines, research economist at the Real Estate Center at Texas A&M University. “We didn’t have excessive overbuilding, so we don’t have a big overhang of unsold new homes, and because Texas has among most affordable housing in the country, the demand sustained.”

Like Austin and Dallas, Houston, tied for No. 4 on the list, is expected to experience a three-year 7.03% rise in jobs. But nowhere are jobs projected to grow more than in San Antonio, where four military bases should help drive its expected 8.32% increase.

To read the complete article click here

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