How is it that some cities are positioned to ride out an economic downturn with little loss? Austin has recently been named near the top of a list of cites that are poised to do just that. Is Austin really recession-proof?
The nature of money and economics is much like the tide of the ocean. Predictable and dynamic. Prosperous times will happen. Recessions are inevitable.
Smart investors look for ways to beat the odds, or at least have the odds work in their favor. One strategy is to make calculated real estate and financial investments that have a higher than average potential to avoid the perils of a recession. The stock market and the S&P 500 could suffer, but these investments remain unscathed.
In a recent report, Austin, Texas, was named among the top recession-proof cities in the USA. This designation is a desirable characteristic for anyone looking to invest in the city.
But what is it about Austin that makes it more recession-resistant?
The not-so-secret answers lie in both the personal finances of the residents and the business acumen of the companies that make Austin home for their products and services.
Recently, the financial technology company SmartAsset ranked the most recession-proof cities in the U.S. Austin made a list with a strong showing near the top of the list, appearing solidly as the fifth-most recession-resistant city.
The analysis concluded that the city has strong job growth and very low job loss. Further, it was reported that there is an extremely low percentage of the population who rely on public assistance programs.
Anecdotally, this is because, despite the economic times, the people of Austin use credit card debt wisely, have an emergency fund saved up, and think about long term planning.
Recession-proof businesses call Austin home
The businesses that call the city home span many industries, and with a recent influx of solid tech firms moving into the area, demand for the products and services these companies offer will be high even if financially good times do not last.
Beyond the financial stability of the people and businesses of Austin, the attractiveness of the area to home-buyers plays a roll in the city’s ability to thwart economic drops. With a social setting rich with near-limitless places to eat and dine, as well as enjoy live music, and myriad cultural activities, Austin is a hot spot for people moving from the northeast US and west coast.
Attractive health care options in Austin
Austin also boasts some of the region’s top health care. Keeping the population healthy is another tertiary characteristic of a recession-proof city.
One of the best ways to learn more about all of the cultural and financial benefits Austin has to offer is to explore what it would be like to live and work in the city. That’s as easy as a phone conversation or as sophisticated as a multi-day tour of everything we have to offer.
Austin Texas Real Estate
The Austin Texas real estate market is still very strong. To learn more about the beautiful homes available in the area, be sure to contact me at (512)-598-6652. I understand that looking for a new home, or leasing your existing one, is a deeply personal process. By being a trusted ally and having your best interests in mind, my overall goal is to ensure that you walk away from your next real estate venture content and satisfied.