Reports show that the real estate industry came in third when it comes to total effect on the GDP. The only two industries to produce more for Texas were manufacturing and mining. Real estate sales accounted for almost 8% of the total GDP for Texas in 2006. This might seem trivial and hard to comprehend, so let me give you some applicable statistics on the way the real estate industry affects our economy. For every million dollars the real estate industry generates, over half a million dollars goes right back into the economy. Every million dollars generated in real estate generates 5 jobs in the real estate industry and 5 jobs in other related industries. Real estate owners paid 24 billion in school tax in 2007! Obviously the real estate industry has a huge impact on our economy, especially in Texas.
If you want to know more about the real estate industry in Texas or if you are interested in buying or selling a home, please visit us online at www.CortiersRealEstate.com or call the office at 979-985-5610.
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