Austin Real Estate Blog

Since 2008 there have been 5 major regional cities that have fared very well through this recession. Among the 5 Austin of course struck well. Brookings reviewed the gross metropolitan product output for San Antonio, Austin, Houston and Dallas in Texas, and Oklahoma City, Oklahoma. It is no surprise as these cities have grown in output since the recession. In Brookings’ most recent survey these cities experienced a decline in the first quart of 2009. Austin less than 1% decline of .06% between the fourth quarter of 2008 and the first of 2009.

This study was conducted by the Brookings Institute in Washington, DC, as part of their MetroMonitor program. This institute conducts a variety of studies to narrow down where cities are faring through the recession. They review employment vs unemployment rates, wages and housing costs.

Austin, as usual, fared well through the process. Austin’s average wage increased during the same period of time, as much as 1.4 percent. Housing costs are also increasing in the Austin Metro Area. There was a minor decrease in job opportunities over the reviewed time, .05%.

This is only one of several studies to produce a clear picture of how well the Austin metropolitan area is increasing, improving and developing even through a recession that has brought most of the country down.