Texas is continually posting strong job growth, and the state’s economy seems well positioned for the long haul. Business cycles are a fact of life, there will be ups and downs, but Texas is really set up for persistently outpacing the other states in our country.
Jobs indicate healthy long-term growth. 6.2 Million new jobs are estimated to be added between now and 2040, which will put total employment over 18.5 million, which averages out to 21,000 jobs a month for the next 24 years.
Texas is getting more and more diverse too. Today and article came out about the slump in the price of oil not being a drag on our economy. We have an range of industries, just to name a few:
Texas is irrepressible, oil dropped from $100 to under $40 and it was not devastating.
My advice from this information is simple. Right now is the best time to buy real estate. If you think there is a housing bubble you are wrong. The longer you wait the more expensive homes are going to get. More jobs = more people moving the area, which translates to more demand for homes. The supply of homes is not growing fast enough for our growing demand and hence the affordability decreases. It is important to understand that the increase in price is not going to be across the board for all homes and at all price points. The price points that I have witnessed in having the highest level of increase is $300k-$450k.
Invest your extra money in real estate. I am personally investing in multiple properties in that price range and we are building homes for sale with that price range.
If this is your first time buying or if you’re a seasoned investor give my office a call, we are always willing to help and consult with you to make the best decisions.