Our local economic guru has predicted that 2008 will see a modest increase in area jobs, about 2% growth rate, and next year will see an increase to a 3% growth rate. This is bucking the national trend, as Austin has done several times before, probably due to our diverse employment base and our youthful population, and our propensity for small biz and startups to locate here.
Angelou says the biggest impacts on real estate will be rising rents, slow housing sales under 180,000, more foreclosures, though not at national levels, and a cutback of new home stars creating a big shortage in new homes.
