by Francesca Levy
Friday, March 5, 2010 provided by Forbes
In these metro areas, jobs are projected to grow and the housing crisis is stabilizing.
In recent weeks business in Washington, D.C. ground to a halt as record snowfalls pummeled the area and a sparring match over national health care reform hijacked the political conversation. But the nation’s capital is getting something right: It is emerging from the recession better than any other major city in the country, according to research by Forbes.
| More from Forbes.com:• America’s 20 Most Miserable Cities• Lessons From 10 Recession Start-Ups• In Depth: 15 Cheap Countries to See in the Recession
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Jobs in Washington are growing quickly, and in 2008 the city produced more in goods and services than almost anywhere in the country.
At BartonPlace we are seeing a very interesting trend where most of our buyers seem to be downsizing. Most of our buyer are coming from larger homes in the suburbs and are looking to move closer to downtown. These buyers are telling us that they want to be downtown but are not necessarily ready to live in a 30 or 40 story high rise building with all the noise, traffic and congestion that comes along with it. BartonPlace is a great fit for people who want to live downtown but not in it; here they get the best of both worlds!
This trend is not only apparent at BartonPlace, Americans all over the country are looking to decrease their square footage. They are embracing the idea of less maintenance and upkeep, lower utility bills, and a more convenient “lock and leave” lifestyle. Last year, 2009 was the first year in thirty decades that the average new home purchase decreased! The average new home decreased from 2,277 to 2,215 square feet according the data from the U.S. Census Bureau.
Although there are some very apparent benefits from downsizing it is something that most Americans need some getting used to. Downsizing your new home also means simplifying the rest of your life too! Since smaller closets, more efficient space and less storage is part of the package there is quite a bit of spring cleaning required for the move. It requires cleaning out the closets and getting rid of the clutter that most homeowners tend to collect in homes. People need to rethink their furniture layout and design. They are spending more time coming up with more efficient and creative use of furniture. Once they come to terms with downsizing they are quickly realize that the small sacrifices are greatly mitigated with all the conveniences, experiences and lifestyle benefits of downtown living.
After a long anticipated wait, the parking for Austin Java and Uncle Billy’s is only 5 days away from completion. The curbs are in, the blacktop is down and landscaping is going in! Bring your appetites, friends and thirst to join us for Austins best food, beer and coffee!
We are excited to bring you the new BartonPlace website that is now up and running. What a better time with the completion just around the corner for our first two buildings 5 and 6. We are excited to have you explore the new site and visit all the different interactive links available. Check out the new amenities map that shows you all of the amazing Austin amenities within walking distance to BartonPlace. Check back in shortly for up to date blogs and articles about Austin and about living in the heart beat of this great city.
Recovery is still in the works, but the overall economic picture isn’t quite so bad in Austin as it is elsewhere.
According to a new ranking from BusinessWeek, Austin is the second strongest city in the nation right now, right behind No. 1 San Antonio.
BusinessWeek used research from the Brookings Institution that looked at a number of factors across the 100 largest U.S. metro areas, including job growth, gross metro product, unemployment change and home prices.
Source: Austin Business Journal
The Austin area added 6,200 private-sector jobs in the 12-month period between November 2007 and November 2008—the 10th biggest gain in metro employment in the country—according to figures released Tuesday by the U.S. Bureau of Labor Statistics.
Texas is showing considerable resilience amid a crippled national economy. The two largest markets in the state—Houston and Dallas-Fort Worth—registered the nation’s biggest private-sector employment gains.
Source: Austin Business Journal
To compile this list, Forbes asked Moody’s Economy.com to compile a list of the country’s real estate markets that are nearest to recovery. Moody’s looked at the country’s Census-defined metro areas–including metropolitan and micropolitan statistical areas–with populations over 500,000, and prepared forecasts through 2011. They then compared them to prices in the second quarter of 2008, which are the latest figures available, to calculate how far prices will likely fall before reaching bottom.
Source: Forbes
Houston, Austin and Dallas-Fort Worth are 1-2-3 in the latest employment rankings of the nation’s 100 largest metropolitan areas. The three Texas markets have added a total of 107,200 private-sector jobs since mid-2007, while keeping their unemployment rates below 5 percent.
Texas’ impressive performance, ironically enough, is partially the result of higher energy costs, the same factor that has bedeviled much of the rest of the nation.
“The state’s natural resources and mining industry, helped by higher oil prices, posted an annual employment growth rate of 6.4 percent from June 2007 to June 2008 and ranked first among Texas industries in employment-growth rate,” said a midyear report from the Real Estate Center at Texas A&M University.
Read more at Bizjournals
