As the housing market continues to decline in areas around the country, especially Florida and California, and with the threat of a recession looming like a dark cloud overhead, Texas' economy and housing market remains strong.
According to numbers released by the U.S. Census Bureau, eight out of the 10 fastest-growing metropolitan areas in the U.S. are in the South, and the South also accounted for more than half of the 50 fastest growing regions.
Dr. James Gaines, a research economist at the Real Estate Center at Texas A&M University said, “From 2000 to 2007, 3 million people moved to Texas, a 14.6 percent jump in the population, making Texas the fastest growing state in the country.”
“In the next 25 years we'll add another 13.6 million people, that's the equivalent of another Metroplex, metropolitan Houston and metropolitan San Antonio with enough left over to add another Corpus Christi.”, he said.
Dallas/Fort Worth drew in more people than any other metropolitan area in 2007. The population there increased by 162,250 between July 1, 2006, and July 1, 2007, according to a new U.S. Census Bureau report. Houston, Atlanta, and Phoenix also witnessed a swell by more than 100,000 people each.
With its affordable housing, low cost of living and cost of doing business, rising employment opportunities and attractive lifestyle, more people than ever before are being drawn to Dallas. [Read more…]