Austin #1 Again
Yesterday we made some comments about Austin economy. This moring while looking through Forbes.com it is interesting to see that Austin & Washington DC are tied for #1 on the list of large metro's for recovery. Those of you interested might enjoy the entire subject article at http://austin.bizjournals.com/austin/stories/2010/03/08/daily2.html?ed=2010-03-08&ana=e_du_pub.
SXSW begins this weekend in Austin. This annual event pumps millions into our local economy besides giving exposure to people around the globe. Follow this link to see what is going on http://sxsw.com/interactive . Last evening we attended a event on sixth street and if there was any doubt about Austin's recovery it was erased. Restaurants were overflowing with customers, venues were abundant, and people were out in force. This is such a vibrant fun city to live in with such a bright future. With investment opportunities available now and low interest rates there is good reason to consider this a place to live and invest in a great property.
REAL ESTATE OUTLOOK FOR 2010 article recently published by the Texas A&M Real Estate Center about comments made by their Chief Economist is as follows:
DOTZOUR'S HEADLINES FROM THE FRONT LINES
COLLEGE STATION (Real Estate Center) – Chief Economist Dr. Mark Dotzour is crisscrossing the nation delivering his economic message and collecting valuable data for the Real Estate Center at Texas A&M University.
Among the comments he heard this week at meetings of the National Association of Business Economics in Washington, D.C., were:
- “Clearly there is virtually no threat of inflation in the next two years.”
- “There’s virtually no chance of the Fed increasing interest rates (maybe a symbolic small move aside).”
- “The last recession, the Fed waited until unemployment was 5.5 percent before tightening.”
- "We won't get to that level for several years.”
- “The threat is for deflation across the globe, with the exception of China.”
- “China’s money supply is up 30 percent from last year. Our M3 (the Fed’s measure of the money supply) is virtually unchanged from a year ago, and available credit is less than last year.”
“The Congressional Budget Office said the United States is going to be unable to pay for the social contract with America,” said Dotzour. “It’s only a matter of when and how the adjustments for failed promises have to take place. Medicare, Medicaid and Social Security cannot be funded at current levels of spending.”
Have a wonderful beautiful weekend!