Business Week Names San Antonio #1 Strongest Economy in Nation (followed by 4 other TX cities!) (Houston: real estate, find a job) - Texas - City-Data Forum

mojokitty · 10-23-2009, 09:17 AM

Good for our city!

Saw this on Yahoo News today. The U.S. Metros Least Touched by Recession - Yahoo! News (http://news.yahoo.com/s/bw/20091023/bs_bw/oct2009bw20091021441398 - broken link)

-"Although the metros in the ranking are strong by relative standards, their unemployment rates in many cases are now peaking because they entered the recession late. Texas, which had 5 metros in our top 10, including No. 1 San Antonio, is a good example.
The unemployment rate in Texas hit 8.2% in September, rising above 8% for the first time in 22 years. But that's a very low unemployment rate, compared to the national rate of 9.8% or to Nevada's 13.3% rate.
Texas is unlikely to face a prolonged downturn, said Terry Clower, an economist at the University of North Texas. The state's affordable cost of living make it attractive to new residents and corporations, the largest of which tend to be based near Houston and Dallas.
"It's perceived as a low-cost place to do business," Clower said. "Because housing is affordable, the wage rates reflect that."

Mom2Feebs · 10-23-2009, 09:17 AM

Go San Antone!

The U.S. Metros Least Touched by Recession - BusinessWeek

Forty Strongest U.S. Metro Economies: San Antonio, TX - BusinessWeek

mojokitty · 10-23-2009, 09:19 AM

We rock!

We're so up on the news...aren't we?

Mom2Feebs · 10-23-2009, 09:22 AM

Indeed!! I saw it on Yahoo, I guess they just released that? I thought it was so great! I'm proud every TX metro area seems to be doing so well. I just hope we don't see too much of a downturn with the whole "late-to-the-party" thing...

Backliteyes · 10-23-2009, 09:52 AM

Even if Texas is late to the party, I think it'll be among the first to leave as well. We know a lame bash when we see one.

Bo · 10-23-2009, 10:02 AM

I'm surprised the article doesn't mention or cite San Antonio's BRAC gains as a factor.

The ranking's a plus, but every plus has its downside. IMO, the downside will be inward migration.

I used to live in a city that was once ranked #1 on Money Magazine's list of livable cities. That sparked so many moves into the city that Money moved the city down 6 places in the next year's ranking, citing a rapid increase in housing costs! Abnormal demand had led to buyers bidding against each other and driving the price of real estate up substantially.

We're already seeing a rise in inquiries here in the forum about job opportunities in various fields. Considering that we know that growth isn't handled very thoughtfully by government planners here, becoming a national target for people seeking a new place to work is a scary proposition.

Backliteyes · 10-23-2009, 10:14 AM

Quote:

Originally Posted by Bowie

We're already seeing a rise in inquiries here in the forum about job opportunities in various fields. Considering that we know that growth isn't handled very thoughtfully by government planners here, becoming a national target for people seeking a new place to work is a scary proposition.

This is a self-regulating problem. There are only so many jobs to be had (unless more exmployers move to the area, which I think everyone would agree is good) so if too many people start chasing after them they either won't be able to find a job or won't be able to find one that pays enough, and their plans to move here will be cancelled, or they will have to move somewhere else to find work. Things may get out of balance in the short term, but eventually they even out.

rd2007 · 10-23-2009, 10:14 AM

can we put a california/nevada/arizona/florida filter on here please?

Mom2Feebs · 10-23-2009, 10:15 AM

That's just what happened to Houston in the 70's-early 80's and it hasn't slowed down since the upswing in the early-mid 90's. The city has adjusted there fairly well, but it took long enough to do and there is a lot more to be done. I hope San Antonio can do a more efficient, effective turn at it should there be a big boom.

sapphire · 10-23-2009, 10:19 AM

Quote:

Originally Posted by rd2007

can we put a california/nevada/arizona/florida filter on here please?

No, the more people that leave CA the more affordable it may get for me there. Let them all come. I'll sneak out the back door and be gone by daybreak. You will find me asleep on the beach, feedin' the fun squirrels at Morro Bay.