Dwight’s Real Estate Update

Kiplinger magazine just came out with its list of the 10 best cities to live in.  This year’s choices were based on strong economies, abundant jobs, lower cost of living and plenty of fun things to do.  Another part of the formula was to highlight cities with a strong past as well as choosing cities posed for future success.

 

Houston was picked as the “comeback kid”.  Back in the late 80’s the price of oil hit a low of $9 a barrel.  If you were in Houston then, cheep oil was not a great thing.  The local economy went down the tubes and took the real estate market with it.  Foreclosures were definitely more abundant back then and the oil business was laying people off left and right.

 

Obviously, times have changed and the oil business has come back strong.  However, that is not the only reason Houston was picked as no. 1.  The local economy is now more diversified and we have led the nation in job growth with 100,000 new jobs in 2007.  The cost of living here is well below the national average and housing cost is half that of other metro areas the size of Houston.

 

Houston was also chosen because of its vibrant downtown with the new sports arenas, convention center, parks and rail transit system.

 

Kiplinger added a nice video to their story.  Click on the link below to see it.

 

http://link.brightcove.com/services/link/bcpid572031303/bclid1571610693/bctid1576242340

 

Filed under: Home Sales, Relocation by Dwight's Real Estate Update