Eldon Rude, local Director for Metro Study told a packed group at the UT Education and Conference Center yesterday that he expects Austin to lead or be one of the first markets to emerge from the current Economic Crisis.
One of the reasons given was that Austin never had the grossly overpriced residential market that the coasts saw. Click here for more.
Rude also noted that most economists project Austin’s job market to begin growing again by year’s end which is great news for the local housing market. A fundamental rule for new home construction is that jobs fuel the homebuilding industry.
Forecasts for new home construction in 2010 could be as many as 7,000 according to Rude, due to low supply of new homes combined with expected improvements to the local economy.