Austin Texas Homes

Austin’s market has remained strong with prices increasing while many metro areas in the country experienced a downturn.

The Austin economy has remained strong and gotten stronger while many metro areas are experiencing a downturn in job growth and stability.

Texas was recently named the best place to do business in the nation by CNBC. According to the Real Estate Center at Texas A&M University the Texas economy will remain strong in all of the Texas major metro areas until 2030.

Austin was named #3 in the list of recession proof cities published by Forbes.com (Austin Stands Strong).

All of these factors make for good reasons to invest now in the “American Dream”, homeownership.

Now there is a new factor in the real estate market which makes buying a home in Austin a wise choice, the rising price of fuel.

Location has always been a real estate mantra and with the effect that the high gas prices are having on people’s budget, location may become even more important.

The suburbs may become passé and city living the next big thing. Real estate agents are already getting phone calls from those that want to move back to Austin from the suburbs to avoid the long commutes and high fuel costs.

The money, suburbanites, once saved in mortgage payments by purchasing less expensive homes in the suburbs is now being eaten up by gas prices. Homes in the city are becoming more attractive to suburbanites.

Although, the Feds are predicting that the inflation rate will slow down in the next few months; we will have to wait and see if it slows down enough to avoid an exodus from the suburban areas. Based on today’s gas prices an Austin home is probably a wiser investment for the future than one in the outlying areas.