From the article "Forecasting 2008" in the DallasCEO magazine written by the Dean of SMU's Cox Business School, Dr. Niemi Jr.
"With an estimated population of 6.6 million peopel, the Dallas-Fort Worth area is expected to grow to more than 9 million people by 2020." Texas has grown 12.7 percent in the last seven years and continues to attract businesses and people on a daily basis. In 2006, 16 major companies left California and moved to Dallas! Last year Texas surpassed New York to take the place of the state with the most Fortune 500 companies (we have a total of 24). What does this mean? More people...More houses!!
What factors do companies, families, or individuals look for when relocating?
- Housing Market
- Quality of Schools
- Shopping and Restaurants
- Diversity of Cultural and Recreational Activities
According to Dr. Niemi, "Dallas provides perhaps the best overall combination of these factors among all major cities in the country."
And although the Fed cutting rates may not directly affect long term rates in the housing market, it will put more money into the hands of consumers! So get ready for 2008!