Recession Proof Austin
According to Forbes magazine, Austin is ranked #3 in recession proof cities; right behind San Antonio (#2) and Oklahoma City (#1). The reason for the high ranking is because of low unemployment and affordable housing costs. Unemployment in Austin, Texas is 3.6% percent down from 3.8% at this time last year and the median price of a home is still under $200,000 in most areas of Austin.
Recession Proof Austin is the Place to Buy
Austin was ranked by Entrepreneur magazine as one of the top places to buy a home. Reporter Danielle Babb based her decision on the fact that Austin and Round Rock have seen incredible job growth and stable home prices even though most of the country is in a downturn. She also cited that jobs are continuing to grow here, which is a strong factor for keeping prices stable and inventory low.
Other cities that were on the list were Mission Viejo, California, Palm Beach, Florida and Las Vegas, Nevada. Palm Beach and Las Vegas were citied because of their number of foreclosure homes in 2007 making their market on the low cost end moving back up.
Recession Proof isn’t Only Reason Austin’s Great
Austin is a great city to live in with everything that is has to offer: live music venues, top notch festivals, hike and bike trails galore, rock-climbing, lake living, great shopping and great food. Within the city limits itself, you have several parks and lakes such as; Lady Bird Lake (also known as Town Lake), Lake Austin, Barton Springs Pool, Barton Creek Greenbelt, and Zilker Park.
Many celebrities and world-class athletes have made Austin their home because of the laid-back and welcoming atmosphere of the residents and because of the plethora of outdoors and athletic activities that this community supports with fervor.
