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In the Best Places to Live in the US in 2019, Austin Tops the List

In their annual list of the best metro areas in the United States, analyst and online news firm US News has just announced their 2019 findings. Analyzing 125 of the most populous locations in the nation, the firm looked across categories of affordability, desirability, workforce opportunities and overall quality of life. To report their findings, sources of data were collected from public agencies including the US Census Bureau and Department of Labor which were referenced to drill down the factors of a successful local economy including job markets, housing affordability and availability as well as quality of education. To collect another perspective, the firm also utilized public polling to understand where individuals across the country would choose to live to further pinpoint desirability of each city in the running.

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The US Reported To Have Outperformed Most Major World Indexes

How does the US rank against other strong countries that are also standing as part of the building blocks for the global economy? Even with fluctuations hitting the nation’s stock market in 2018, the US was reported to have outperformed most major world indexes.

With economic performance and corporate profits higher than other developed countries, economic expansion in the United States is even set to become the longest running growth on record by summer 2020.

More investments are also entering into domestic markets as the push from corporations, consumers and even business policy grows. Stronger consumer and corporate consciousness from both younger and older demographics is also continuing to impact buying patterns internationally.

Although not yet substantial enough to disrupt major global markets, there is a growing interest to establish a more home-grown economy with today’s US business leaders and future entrepreneurs.

Leaning in on foreign resources and market opportunities to develop better commercial growth is also another side many organisations are putting their money on in the new year.

Both sides will likely experience the impacts of the changes expected to come in the next 11 months analysts predict.

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2019 Rental Report Findings That Show Why Renting is Looking Like a Better Investment

Buy or rent in 2019 is the topic being debated by populations looking to make their housing investment in the new year. Just less than two decades ago renting was not a readily available solution for most of the population where as now with a rush of development and new market categories, rental living can offer the same accommodations and fulfill the same requirements as those living in their own home.

These better amenities along with flexible liabilities are two main pulls bringing even former home owners to the rental market and now studies show affordability may be the latest attraction. This contradicts much of historical housing trends that focus in on home ownership as being the best investment. But as analysts look at some of the nation’s most populated counties including Houston, Texas, limited availability, high mortgage rates and stiff competition are pricing many would be buyers out of the market.

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Renting today may even mean long term benefits for those seeking residence in popular areas as the going market rate for the same house just 5, even 3 years ago has gone up substantially. This upswing isn’t expected to continue on for good however, as many veterans and analysts in the industry project that housing markets have become inflated and will soon meet their cap – and inevitable downturn. These are just some of the reasons why renting is becoming a more popular option. Other impacts like demographic changes as a new group of consumers become the majority decision makers in the market, home ownership is not always the sound investment it was thought to be with past generations.

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The New Building Trends in the New York Rental Market That are Reducing Costs & Waste

As more restraints are being put on today’s developers building out the next generation of housing properties, a new wave of property styles are popping up that focus on efficiency of resource consumption and labor. The ability to reduce cost of investment and turn-around time is what most often stands in between a project idea and its actual completion.

marcus hiles

Thirty-year veteran and CEO of Western Rim Properties Marcus Hiles shares, “Almost every property development project is likely to go past budget and intended deadline. This is due to the various factors of unforeseen costs and unpredictable impacts that a location can have on speed of production.” Whether it is regulations from building permits, shipping delays, depleted stock supplies, or labor issues; the undertaking of completing new development projects can often create a negative ripple effect on all involved that costs time and money. These factors combined have pushed the need for an alternative to be introduced into the development space that addresses the ongoing and unpredictable issues created by traditional building methods.

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What Amazon’s HQ2 Decision Means for New York’s Long Island Housing Market

Partnering in the dual HQ2 decision is the city area of DC, which will share the nearly 50,000 new jobs the investment will bring. The split and resulting decreased infrastructure requirements has not only opened up new areas as feasible options but also enables Amazon the chance to create two thriving markets while also tapping into the resources and talent each unique location has to offer.

Looking back to some of the statistics from Amazon’s first HQ location, it would seem each area will need to brace for substantial change. “Whenever new business enters an area, demand for housing is almost always likely to go up along with the rate residents are willing to pay,” shares CEO of Western Rim Properties Marcus Hiles who has over 30 decades of experience in the rental market.

A recent article by Forbes focuses in on this top question on the minds of local residents in NYC — how will this influx of new business impact Long Island’s housing market? The article cites the home prices in Seattle jumped more than 35% after Amazon entered the area. And that’s not the only impact the online giant had on the area’s economy, since 2013 home prices are reported to have risen 73% while rents were up 31%.

However the already over saturated populations in NYC and vast infrastructure that exists or is in development in the area presents a unique opportunity for Amazon. Early on the organization had made many evaluations to understand where the best investment would be location wise. One of those studies focused in on the necessary build up a location would require for the company to move in with tens of thousands of new employees brought with it. Online apartment network HotPads provided its data on the matter which did find many of the locations in the Amazon HQ2 shortlist weren’t fully equipped to handle the new growth right out of the gate and would require considerable ramp up to meet the needs of the new business investment.

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National Rental Prices – Where the Opportunity Is for Today’s Renters

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

A lot of things impact rent: building size, amenities, housing availability, proximity to central areas and most of all location. When looking nationally the rent variations from city to city can be extreme – especially when comparing historically high-priced areas with that of relatively new up and coming areas. It comes down to the area’s demand – rent has no cap and will go as high as the market allows.

That demand and subsequent price hike can become inflated if a location, mainly metro and city areas become overpopulated. Texas-based property developer Marcus Hiles shares his experience of market inflation by adding, “Take a place like New York City, the introduction of new housing is much more rare than a place like Austin, Texas. NYC’s available space for new property development is scarce and comes at a premium most average renters can’t afford nor makes for a smart decision for investors and developers.”

marcus hiles

A new report by online authority in the rental industry, Zumper highlights this push-pull factor that continues to fluctuate the median rental rates nationally.

According to their data, today’s most expensive rental markets are those you would expect: San Francisco, NYC, San Jose, LA and Boston.

Read the full press release

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A Model for Future Development – Houston Weathered One of the Nation’s Worst Storms and Is Rising Above

Residents of Houston, Texas know what it’s like to endure one of the country’s most severe storms ever recorded. Hurricane Harvey hit the Midwest state in fall 2017 bringing with it severe devastation that has been estimated to have impacted nearly 50% of all homes in the area.

Before Harvey, storm destruction was not uncommon but what this category 4 hurricane did do that others could not is influence the cities rebuild and future development on a massive scale.

Historically, the city of Houston has had a relatively unregulated approach to expansion that has acted similarly to the build out methods of other top Texas cities such as Dallas. With an increasing need for housing, commercial buildings and overall citywide infrastructure, the focus had most often been centered on quick turnaround time rather than longevity and ability to sustain Houston’s fluctuating weather patterns.

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Time Recognizes Texas as the Nation’s Best Place to Live

Texas once again leads the ranking for today’s best land of opportunity in both residential and commercial arenas. Frisco, Texas – a once sleepy town of 6,500 residents just over two and a half decades ago, the city now boasts 180k+ residents and has been named the single best place to live in America today.

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In MONEY’s report highlighting the nation’s top 50 cities live in, Time, Inc. and Realtor.com compiled data from over 500 locations across diverse geographical to come up with today’s city leaders. Combining data on growth, affordability and quality of living, analysis was conducted on each city’s economic health, cost of living, diversity, public education, income, crime, ease of living, and amenities. Scoring some of the report’s highest marks on a state-level were those of Texas, which comes as no surprise as the state’s residents and even the national economy has seen and experienced buzz-worthy growth on a top tier scale

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The State of Houston’s Rebound – How Smart-Growth is Helping the City Grow Up, Not Out

Houston, Texas is a city known for the opportunity it brings to both businesses and residents in affordability, landmass and employment opportunities that attract populations from across the state, nation and globe.

Much like the build out methods taken historically in the leading Texas city of Dallas, Houston has been adding on and building out its infrastructure more widespread each year. This continuous expansion to the city and its surrounding suburb communities has created a cycle of high inventories in low-cost commercial and residential properties that is working to disperse populations and consume resources at a large scale.

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The San Antonio Rental Market Hits a High During its End of Summer Push

Thanks to growing interest from Americans and the nation’s largest ever demographic of millennials, industry changes are taking place throughout San Antonio, Texas.

Key to the build out of the area, the city’s housing market has undergone considerable new development- especially during the recent summer months of 2018. Focusing on introducing more urban city living options, new apartment communities have been popping up across the metro. Tailored to both singles and family renters, an infrastructure that attracts residents to both city and key suburban areas are being established and proposed each month. Local property developers are introducing these new projects and expanding on those existing ones to establish more footing in this growing market opportunity.

Just in the last 12 months, 25 new apartment communities have been completed, introducing over 5,000 new units for the area’s growing pool of renters. These new additions to the renter market are not going without demand despite a spike in supply. Monthly report findings from Apartmentdata.com highlights an increase in the average rent per unit and occupancy rates that are continuing to be maintained, throughout recent summer months.

Read the full press release