Texas a Best State to Live In?


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Have you thought recently that the Dallas real estate market was doomed and never to rebound again? In the midst of hard economic times, it may seem like that. However, there is progress happening behind the scenes. The economy of Dallas is making a slow upward trend according to marketing reports and analysis.

The Numbers

Recently, Living Trade released its list of Best US States to live in. Oklahoma made the list at number ten, and surprisingly, Texas made the list at number one. The list looked at ten states that added a minimum of 25,000 jobs each quarter in the first half of 2011. Texas had a whopping 117,000 jobs added, which is huge compared to the total 517,000 added by all ten states.  What makes Texas’s number one rank so surprising how quickly it has recovered in our country’s current economic state. Between 2008 and 2010, Texas lost over 116,900 jobs by local firms. In the last six months alone, Texas has added those jobs plus seven hundred.  Other states that made the list were Illinois, Wisconsin, Ohio, New Jersey, New York, Massachusetts, California, and Florida.

Trends

By comparing the ten states, there are several factors that all ten share. All of the states were devastated by the real estate market and downturn in manufacturing that began in 2007. All of the states have rather large populations, and they did not lose that many jobs at the beginning of the recession. These states also have a lot of jobs in the financial industry, including the banking and mortgage areas.

Forecast

What does this mean? Hang in there all of you that have been scraping to make ends meet. There is the light of economic relief ahead in this tunnel of despair. If you are in real estate, the business sector is growing again. This means more properties will be needed in commercial and residential areas. It may take creative marketing, ingenuous ways of finding clients and meeting their demands. It may also mean helping to arrange seller financing for buyers that may have imperfect credit. It will not be the major money making real estate industry of days gone by, but it will put the food on the table, pay the light bill, and leave a little extra in your pocket for gas.

The numbers do not lie. Texas is a great place to live, and it’s great news that the states number of jobs is increasing as fast as it is. The hard part is waiting for the nation to catch up and hoping that the state can maintain its job growth progress.

For more information on the real estate business or the potential in real estate investment, look us up at Homevestors.com.

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