Texas, Number one state for Business in 2012 – What good is it for Buyers and Sellers?

Texas is all over the news again for being a great state to support America’s economy during this recovery time by supporting the businesses. It topped CNBC’s America’s Top State for Business 2012, its third time at the top of our rankings. Lone star state never finished below second place since we began the study in 2007 and received top spots in 2010 and 2008.

The sixth annual study report published by CNBC showed that Texas racked up an impressive 1,604 points out of a possible 2,500, with top-10 finishes in six of our 10 categories of competitiveness. Texas has the nation’s best Infrastructure, according to our study. It improved to second place for Technology and Innovation, and boasts the third lowest Cost of Living. The state’s Workforce improved to seventh best from 14th last year. Perhaps most impressive, the Texas economy recovered from a rare stumble last year, when it finished 14th in the category, improving to fifth this year. However, Texas ranks No. 26 in education, No. 28 in cost of doing business and No. 35 in quality of life.

To see the video about this report, click here and Click to read more about the report.

What good is it for Consumers?
I hear you. Texas may be top one state for business but what good is going to be bring to me as consumer? As a consumer or Texan, we have a very less unemployment rate compared to other states which is due to more businesses employing our residents. It is good thing to be working especially in a Fortune 500 company which find Texas a very business friendly home. Secondly, we get more out of states residents moving to our state. It brings different people to our state helps to increase sales in small business like restaurants and others.

At the same time, more people move to state and who also want to find home to live in which case creates a competitive market if the house sales inventory is very low. It is good for seller who can get more for their house. It might also be good thing for builders who don’t have give lots of incentives to attract customers which won’t help new home buyers. So there is always pros and cons in any situation and you have to take into consideration how it will affect your situation. That’s my 2 cents.

About Vijaianand Thirnageswaram

I am a Proud Realtor of Texas, trying to guide and help clients to find their dream home and educate them to buy them for right price. I am also a Candidate for CFP who has more financial knowledge which allows me share and educate clients in any financial decision making process.

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