I'm not sure if it will come to fruition, but if San Antonio mayor Julian Castro's prediction of 20,000 new jobs for San Antonio in 2010 does happen, it would surely give a boost to the San Antonio real estate market, which is already doing much better than most major cities across the country.
Mayor Castro gave his optimistic prediction in his inaugural State of the City speech at the annual Greater San Antonio Chamber of Commerce luncheon, which was attended by approximately 900 local business members who are considered movers and shakers in shaping the San Antonio economy. Included in the mayor's forecast are 5,000 new jobs already ear-marked through the expansion of the huge army military complex at Fort Sam Houston.
Although San Antonio has averaged an increase of 15,800 jobs annually since 1991, according to Steve Nivin, Director and chief economist for the Alliance for Business and Economic research, the city lost about 10,000 jobs last year due to the current recession. That the area real estate market was able to retain a positive level of stability during this downturn speaks well of our city's future.
Castro cited several reasons for his optimism in 2010: a public-private partnership intended to coordinate downtown San Antonio development efforts; an investment incentive package, pending approval by the San Antonio city council, that could save developers as much as $500,000 in impact fees for projects in the city's urban core; and his sense that San Antonio will be able to persuade companies to relocate here.
In the throes of mixed economic predictions, some of which see a continuation of massive residential foreclosures across the country, I am confident that San Antonio will at least maintain a slow but steady increase in real estate values during the coming years.
For information on any aspect of San Antonio real estate, you can contact me at: EdBarr1936@gmail.com. Be sure to visit my website at www.EdBarrettHomefinder.com for updates on San Antonio, TX happenings, and to conduct real estate property searches using my state-of-the-art search system.