Forbes Magazine Article Names Austin, Texas #3 on its "recession proof cities" list

Once again, Austin, Texas has made national news.  Forbes.com has named Austin #3 on its new list of "Recession Proof" cities.  The top two cities were Oklahoma City and San Antonio, TX. 

The top 50 largest metro areas were ranked on a scale using three major factors, namely:

1. 
   
2. Unemployment rate - Which areas added the most jobs over the past year?
   
3. Real estate prices - Which areas posted the largest annual gains in median home price over the past year?
   
4. Gross metropolitan product growth - How would rising foreclosures and falling home prices affect overall levels of productivity in the local economy?
   

Among the statistics cited were the following:

• 
  
• Austin's low unemployment rate of 3.6%
  
• The median home price in Austin remains under $200,000, and it rose over 6% this past year
  
• Texas cities are much easier to afford for a large percentage of the population, since there is still a lot of open land. 
  

For the full list, along with the entire text of the article, visit:

http://www.forbes.com/2008/04/29/cities-recession-places-forbeslife-cx_jz_0429realestate.html

If you have any questions about Austin, please give me a call anytime at 512-796-7653 or email jason@austintexashomes.com. 

If you are looking to relocate to the Austin/Round Rock vicinity, you might be interested in checking out my online relocation package here:

Austin Texas Relocation Package

Our Austin real estate website is at http://www.austintexashomes.com/.  I look forward to hearing from you soon!