Countless times on this blog I've counseled real estate investors to stay on top of the "buzz" about their geographic area. I try not to preach anything I'm not practicing, so I do actively look for information on Texas (and Austin in particular) from sources that are "outside" the local or regional news box.

I was more than a little surprised, however, to come across Tom Geoghegan's article for the BBC, "10 Reasons Why So Many People Are Moving to Texas." Surprised, but thrilled, I might add. When trends like this are being discussed internationally that means business developers are watching. That's very, very good for what we do.

Geoghegan's article opens with a graph from the U.S. Census Bureau that illustrates that Texas boasted five of the 10 fastest growing cities in the nation for 2011-2012. In order, those cities are: Houston, San Antonio, Austin, Dallas, and Fort Worth. (In terms, of percentage of cities that grew in proportion to their size in the same period, San Marcos -- our near neighbor down the road -- is in the lead.)

The major factors behind this growth, outlined in the article, are all strong talking points for putting your investment dollars into Austin properties.

 - Job growth. Geoghegan principally discusses the energy and tech sectors, which are points of strength for Austin.

 - Low cost of living. That's in terms of low consumer prices, reasonable utility and transportation costs, and good housing prices (including rents.)

 - Cheaper land. The article mainly cites the ability to buy land at a good price and leverage faster construction times, but we also have to look at how good this factor is for development across the boards.

- Low taxes. Do we even need to point out the attractiveness of living in a place with no state income tax? We're only one of seven states in the nation with this advantage.

 - Pick your city. Texas claims six of the largest cities in the nation, so people who like urban living have an excellent choice: Houston, San Antonio, Dallas, Austin, Fort Worth, and El Paso.

Geoghegan also cites the family friendly nature of the state and culture, fewer regulations, the down to earth nature of Texans themselves, and the fact that we're one of the stickiest states in the nation. Seventy-five percent of all adults in Texas are lifers -- born between the Red and the Rio Grande and intent on staying right here.

But, of course, point number 6 from the article is my favorite, "Austin in particular." Now, I don't know that I completely agree with the Chicago native quoted in the article who says of us, "It's not Texas at all . . . it's hip and in the now." Yes, the rest of Texas is very conservative, as he points out, but I like to think of Austin as at the forefront of where Texas is going -- and that direction is forward thinking and progress oriented.

Posted by Monte Davis on
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