The real estate market has dominated much of the economic talk for 2019 in Texas. This is due in part to the fears many economists have about the future of the economy. After all, economic growth is always followed by an economic decline. That is the normal order of things. Last time, the reason for this was the real estate market. So, as the bubble continues to grow, many people believe it will soon pop again.
Regardless of the economic outcome, one thing is certain, people need somewhere to live. Businesses also need buildings to operate out of. Several studies have also shown that most economists do not believe real estate will be the cause of the next economic downturn. This allows commercial real estate to keep its well-earned position as one of the best long-term investments.
The question is where to buy. Business Insider and several other media agencies believe Austin, TX is the place to consider. The city has been growing exponentially with no foreseeable end to this expansion. However, it is important to note that, for this very reason, it has become a very competitive market for investors.
Forbes reports that many of these investors are drawn to the potential of compounding their earnings. It helps that Austin is actually a great place to be. Residents enjoy the tax benefits, affordable housing, low unemployment rate and top-performing schools. It is no wonder that 145 people move to Austin per day.
Finally, note that Austin’s unemployment rate sits well below the national average at 2.9% versus 3.7%. To add to this, many companies are considering expanding into the state. These include the likes of Facebook, Apple, Google and IBM.