"Austin
has topped countless national rankings for job growth, innovation,
quality of life and more. In fact, Austin ranked as the 26th best
economic recovery worldwide, the highest ranking of all U.S. Cities,
according to a global study by the Washington-based Brookings
Institution. The ranking is based in part on job and income growth
during the current economic recovery."
I have written frequently over the past year or so about many analyses in which Austin ranked at or near the top in terms of economic strength. This Chamber report includes some details that I have not seen summarized in one place previously:
(Click image to enlarge)
These two lists comprise more than 13,000 new jobs created last year. As I wrote earlier today (see Manufacturing Growth in Texas), most Texas business people are optimistic about the future. Given Austin's many unique advantages, that optimism is especially well-founded here.
What does this mean for the Austin/Central Texas real estate market? Continued population growth as I have written previously, and all of those folks will need places to live -- perhaps rentals in the short term, but many will become Austin homeowners in the coming months and years. The future for the Austin metro area is bright.
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