There are a number of reasons the city of San Antonio, TX is growing, adding 30,000 people to its permanent population in the past twelve months, notes Marcus Hiles. The Fort Worth-based real estate executive and philanthropist is excited to share why this Texas enclave continues to see impressive growth. Confident about the future of the glittering urban gem, Hiles cites the city’s fourth fastest growth rate in the nation as a direct result of its exceptional amenities.
With about 510,000 new residences constructed in 2015 and over $450 billion in sales for the commercial real estate sector, the property industry is the biggest component influencing employment and the overall economy in the United States today. Politicians have directly affected real estate markets in the past under President Obama, and definitely will continue to have future impacts as President-elect Trump takes office. Renowned Dallas developer Marcus Hiles points out that benefits can be appreciated from the policies of both men when applied to the real estate industry.
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Marcus Hiles, a Dallas-based entrepreneur and founder of Western Rim Property Services, highlights that Texas policies have been an unmatched incentive for job growth that outpaces the rest of the U.S. The state take pride reaching post-recession job recovery two years earlier than the entire nation. It had seen over 1.3 million new jobs by January 2016, further solidifying its already impressive pre-recession employment records. Due to the fact that the state has always been unique in that its unemployment rate is persistently less than in the country as a whole – Texas hit 4.4 percent in April whereas the rest of the United States reported the unemployment rate of 5 percent, collectively- consumer confidence has been consistently strong. The 2016 May Consumer Confidence Index (CCI), which determines economic optimism, per savings and spending indicators, revealed Texas reached its record peak of 117.6. Meanwhile, the overall U.S. CCI constituted the total of 92.6. Texas sustainably strong economy – appreciated by additional $5 billion in tax reduction in recent years – had a rewarding benefit for the housing industry as well. The year-over-year price of houses has gone up to enjoy a 5.9-percent growth, while single-family building permits grew in number by another 6 percent.