Forbes: SA #7 of Cities Where The Recession Is Easing (Houston: real estate, to rent)

[majormadmax]

Yes, I am sure this announcement will spark the usual "I know someone who can't find a job" responses; but the bottom line is that SA has weathered the economy downturn well and that fact has been recognized in the latest Forbes article Cities Where The Recession Is Easing...

7. Metropolitan Statistical Area: San Antonio, Texas
Unemployment Rank: 2
Home Price Rank: 27
Metropolitan Gross Domestic Product Rank: 35
Three-Year Job Growth Forecast Rank: 1
Job Growth, 2007-2009 Rank: 2

Actually, Texas in general has done well, here's an excerpt...

Good Fortune In The Lone Star State

If one state is a poster child for economic recovery, it's Texas, home to four of the 10 cities on our list. There's more to why Austin, Dallas, San Antonio and Houston are faring well than just the state's energy industry. The tech, government and education industries supplement the oil state's riches. As for housing, cities in Texas didn't see the same run-up in home prices and rampant speculation that led to the spectacular bubble burst elsewhere in the country.

"The housing market got lucky, if you want to look at it that way," says James P. Gaines, research economist at the Real Estate Center at Texas A&M University. "We didn't have excessive overbuilding, so we don't have a big overhang of unsold new homes, and because Texas has among most affordable housing in the country, the demand sustained."

Like Austin and Dallas, Houston, tied for No. 4 on the list, is expected to experience a three-year 7.03% rise in jobs. But nowhere are jobs projected to grow more than in San Antonio, where four military bases should help drive its expected 8.32% increase.

So while there may be a few individual exceptions to this, overall our fair city is doing well (as is the state) which is always great news!

Cheers! M2

[Mom2Feebs]

I don't know about jobs, but I do know that I spoke with a home appraiser yesterday who told me he isn't doing half of what he was this time last year. We also have quite a few homes in our immediate area that have been on the market 90 days or more. I wonder if that's just because there is so much new construction?

[badhornet]

I work in unemployment and it isnt no better...not by a long shot

[Azure110]

This article compares Texas economy to other state economies.

For example, I have spoken to people visiting from Detroit and they have mentioned that they can see a huge difference in our own economy compared to Detroit's own.

I am willing to bet someone working in unemployment here would notice a huge difference if they had to work in the same field up north like in Detroit.

[Dopo]

I'm glad it looks good right now,
but I like to look at farther than the next few months.

Someday that's going to change, what's the city of San Antonio doing about that?
For example, I noticed that high tech companies like to go to places where they can find a big pool of highly educated college graduates.

[xsa210tx]

I'd like them to also take into account, however, the "underemployed." Many businesses are getting by with many part time workers (with fewer full time workers) working them nearly 30 hours instead of giving them the extra 10 hours and making them full time with benefits.

In today's economy having "benefits" is critical and with fewer hiring full time and with "probational periods" of 90 days or more...more and more people are going without health insurance and working multiple part time jobs increasing stress, lowering morale at the workplace and the struggle with having to juggle that all.

I am fortunate though that it's not as bad as other states, don't get me wrong, but it's not all rosy either for many

[wCat]

Originally Posted by majormadmax

Yes, I am sure this announcement will spark the usual "I know someone who can't find a job" responses; but the bottom line is that SA has weathered the economy downturn well and that fact has been recognized in the latest Forbes article Cities Where The Recession Is Easing...



Actually, Texas in general has done well, here's an excerpt...



So while there may be a few individual exceptions to this, overall our fair city is doing well (as is the state) which is always great news!

Cheers! M2

The overall picture is that the average salary in San Antonio is about $36K as apposed to other areas where the income bracket is much higher and yes...so is the COL.....but making a living based on the COL is not "making a living" at that kind of salary. $36K is considered on the LOWer end of the middle class. What does it say about jobs in the private sector?

The people I know that are unemployed recently were making quite a bit more than the average. The military jobs don't help the "civilian" population unless it's a civil service type job....which is not clarified in that statement. Last I heard right here on CD is that "civilians" are on a very long list to get government jobs. Any other good news for SA that is a bit cheerier?

[HillCountryHotRodMan]

I just saved an arm and a leg on my auto insurance! That's cheerier...

I think that $36K average is pretty tough, better COL or not. I also don't actually believe that the average is $36K, I think it's probably a bit lower...

[SA78228]

that is great news!


U-Haul Prices as Migration Indicator


"When comparing California with Texas, U-Haul says it all. To rent a 26-foot truck oneway from San Francisco to Austin, the charge is $3,236, and yet the one-way charge for that same truck from Austin to San Francisco is just $399. Clearly what is happening is that far more people want to move from San Francisco to Austin than vice versa, so U-Haul has to pay its own employees to drive the empty trucks back from Texas."

U-Haul Prices as Migration Indicator | Newgeography.com

[AnthonySA]

I'm not sure how the recession in San Antonio is easing... unemployment continues to rise: Report: San Antonio unemployment spiked 0.8 percent in Jan. 2010 | kens5.com | San Antonio News, Local News, Breaking News, Weather | News