The Good Life in Austin Texas


Has Texas managed to dodge the bullet (and avoid most of the current economic downturn)? Part II

Austin Skyline View

To follow up on my most recent post I came across some interesting information from the Texas State Comptrollers Office.

Susan Combs has been quoted at several functions across the state. She has cited economic growth 60% above the national average and the creation of more than a quarter-million jobs statewide between April 2007 and 2008.

Comptroller Combs has forecasted a 3.2% growth in the GSP for FY 2008 versus the national projection of just 2% economic growth, due in large part to the state's ability to avoid the widespread sub-prime mortgage crisis and housing crunch. She has also noted that "Our state does not have grossly overpriced housing, a young family can still get a home," Combs said, "Texas has generally avoided the sub-prime mess and housing crisis. Consumer confidence is up." "Texas is also bucking the national trend when it comes to unemployment. While 320,000 jobs were lost in the U.S. last year, Texas added 262,000 in 2007 and another 81,000 since January."

For more information about the Texas economy and latest information regarding the state's economic outlook you can access the  Texas State comptrollers website here: Comptroller's website.

I hope this helps to give a balanced perspective.

Russell M. LewisPage copy protected against web site content infringement by Copyscape 

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3 commentsRussell Lewis, Broker,CLHMS,GRI • July 21 2008 02:29PM


Thanks Russell - We have so much good news in Texas.  Yet there is still a lot of grumbling in the hallways of real estate offices.  I choose to simply keep busy with all the buyers that are moving to our area from other states.  Good job on reporting the reality here.

Posted by The Woodlands TX Kathi Frank (Prudential Gary Green Realtors) over 2 years ago

Good news in Texas!  Make sure good news that is market related and has backup facts, gets placed on the AR group for positive real estate news:

Posted by Heath Coker, Real Estate Broker, Cape Cod ( & over 2 years ago

Thanks for this post, I am going to use it as an email-out for clients moving to Texas from out of state!

Posted by Allysoun Musslewhite (AvenueOne Properties, Inc.) over 2 years ago


What does the graphic say?