Moody's March 2009 Report & the Austin Real Estate Market

This is consistent with other recent economic news and it’s good news despite the tenor of Mr. Friedman’s comments.  2010 is right around the corner and the steady improvement that will prelude a 2010 recovery means we should start to see improved economic news sooner (4th quarter 2009 perhaps) rather than later. 

Edward Friedman, March 2009

Moody’s has revised the near term outlook for Austin significantly downward, as the global recession has deepened beyond earlier expectations.  Employment will decline moderately over the coming year, as demand for IT hardware, software and services contracts. However, the overall decline will be proportionately less than for the U.S. as a whole. Although such factors as above average population growth, income per capita, and a highly educated workforce remain important long-term drivers for above average growth, AUS cannot count on recovery until 2010 at the earliest.

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