Austin Economic Forecast for 2009/2010

I’ll be attending the Angelou Economics Austin Economic Forecast today, hosted by the Oak Hill Business and Professional Association. This is a rerun of the presentation presented earlier in the year (but which costs $270 to attend). The power points and information are posted up on the Angelou website, but I always appreciate the question and answer dialog that occurs at the live presentation.

Most interesting for me, and I think others who attend each year, is the perspective gained on how well Austin really is doing relative to just about anywhere else in the country. Yes, our real estate market has slowed down, though mostly in the upper price ranges. Yes, unemployment has risen, though still lower than Texas or the Nation. Yes, there have been layoffs, though job growth remains slightly positive and will improve again in 2010. But compared to any place else in the U.S., Austin is chugging along very well. Check the links below for the data.

Attending the presentation is sort of like it was in 7th grade, when fretting over your two or three pimples, you encounter the other kids with pepperoni faces, and you realize your condition really isn’t so bad after all. And you decide to be happy instead of worried. Austin remains the economic envy of of rest of the nation.

If you can’t make the presentation today at 11:30 (click here for more details), then read the printable attachment of the presentation, and see what you think.

Posted by Steve
7 years ago

Steve is a Real Estate Blogger, Husband and Dad, UT Austin Grad, Runner, Real Estate Broker and owner of Crossland Team and Crossland Real Estate in Austin TX.

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New Austinite - 7 years ago

Hard to say. Interesting stuff. All I know is I’ve lost a ton of money this past 9 months and I’m now value shopping…..not shopping with my heart.

BTW- When does the March sale data go live? I always appreciate your reports.

roots planted here - 7 years ago

Central Austin ( I35 to 360 and 290 to 2222) is fairing better then most parts of the country. I have no government data do back it up, just anecdotal evidence. In fact I have been waiting with $$ in hand for this market to tank – not just real estate, but wine, clothes, furniture and so on and its just not happening right now.

If central Austin is in a major recession then all four of the cupcake making classes at Whole foods ($65 for one 2.5 hour class) would not be sold out with waiting lists!!! Where would you say these class fall on the hierarchy of needs? lol

Steve - 7 years ago

> BTW- When does the March sale data go live? I always appreciate your reports.

After the 10th. Need time to let the agents enter end-of-month closings.

> Where would you say these class fall on the hierarchy of needs?

Obviously pretty high!! That’s the funniest comment I’ve read in a while. Thanks for the laugh!! I did indulge in a Hey Cupcake the other day, I hate top admit. Added 3 pounds the next morning and had to drink Slimfast shakes the entire next day to equal back out.



arz - 7 years ago


Slightly off topic here: remember you had a post not long ago regarding a study found that nearly half of all modified loans end up in defaulting only few months after they are done?

Well, here is a new study:
that basically saying that 1-In the past year, most lenders were reluctant to reduce monthly payment for modified loans
2- Some modified loans actually see increase of monthly payment; and 3- if monthly payment were reduced, the default rate drops significantly.

I thought these two studies serves two totally different goals and audiences. They both represent facts, just not all the facts.

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