Mischer News

Those Americans looking for a job should look no further than Houston. Forbes has just ranked Texas ranks number 1 for overall economic climate on its list of Best States for Business this year, up one place from last year.

Each of the 50 states is measured according to labor supply, regulatory environment, current economic climate, costs, growth prospects and quality of life. Heavy importance is placed on business costs such as labor, energy, taxes, etc.

Texas also ranked 8th for Best state for business and 3rd for growth potential. It was reported earlier that Houston was a hot spot for tech jobs. This bump in placement from last year shows that the tech field isn't the only thing booming in Texas.

Source: Houston Business Journal

If you are looking for tech jobs, we are happy to announce that the U.S. News and World Report named Houston, Texas one of the best places to find tech jobs in the U.S.

According to the report, Houston is full of service firms serving the energy industry, with many of these jobs in the IT field. Houston's high tech industry has emerged from World War II, and currently remains on top. The report confirms its high status by stating that "Today, Houston ranks high for total tech job postings and has above-average ratios for tech job postings to employment in multiple occupations."

U.S. News gathered its findings by starting with a database of 2,000 cities, and by combining that with data provided by OnBoard Informatics. They looked at metropolitan areas that are large enough to support the tech field. This data was then sorted based on factors such as high rates of graduate degrees, etc.

While some industries have been hit hard economically in otherparts of the country, the Houston IT industry, such as engineering and software development, is faring much better. Given the richness of the industry within Houston, it's no secret as to why the city is continues bustling today.

The second quarter was a good one for the Houston-Sugar Land-Baytown metropolitan area, which has been named as one of the nation’s 20 strongest metro areas by the Brookings Institute.

The Washington, D.C. company’s quarterly MetroMonitor ranks the nation’s 100 largest metro areas for their economic performance based on five key indicators — employment, unemployment, output, home prices and foreclosure rates.

Houston led the nation in housing prices, with a 4.9 percent increase over the 2008 second quarter, according to the report. That compared with a 4.4 percent average decline among the Top 100 metro areas as a whole and a 1.7 percent decrease in the national average.

Texas overall was considered strong, with Austin, Dallas and San Antonio all also included in the Top 20 markets.

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According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, new residential construction in the nation rose 3.6% last month to an annual adjusted rate of 582,000 homes, a full 20,000 more homes built from last May.

Single-family homes have predominated the increase in construction, rising 14.4%, while multifamily projects, such as new apartment units and other commercial real estate developments, declined approximately 25.8%.

While funding to buy homes still remains tight, says IHS Global Insight economist Patrick Newport, financial plans are available for interested homebuyers who have good credit and secure an adequate down payment.

It seems that more families are carefully taking the next step and buying new homes, steadily nurturing the housing market back to its former levels.

Source: Houston Business Journal

The Houston housing market was able to stay out of the jaws of the recent recession, but many of the city’s residents did not escape unscathed.

In an effort to help keep history from repeating itself, the local broadcasting company of PBS Channel 8 will be hosting “’Facing the Mortgage Crisis,’ a community engagement initiative designed to connect area residents to trusted foreclosure prevention resources.”

Highlights of the program will include short, informative TV “spots” that will answer all of homeowners questions about topics like interest rates, collection notices and more.

An extended version of this on-air Q and A will show on August 4th from 7-8pm. Hosted by Emmy-award winning producer Patricia Gras, “Facing the Mortgage Crisis: A HoustonPBS Town Hall Meeting” will feature specialists form nonprofit organizations guiding viewers through issues related to the mortgage crisis. Volunteers will also be taking calls and emails with viewer’s questions during the program.

To send in your own questions, please email mortgage@houstonpbs.org, or visit www.houstonpbs.org/mortgage for learn more or for further contact information.

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As part of President Obama’s American Recovery and Reinvestment Act that has recently been blasting its way through the nation, more than $489 million will be pouring into the Houston region for much needed infrastructure improvements and repairs.

Texas has already received $3 billion from federal highway funds, and will receive $2.25 billion more from the stimulus for transportation. The regular federal allotment comes with some restrictions, such as percentages of funding reserved for improving safety, relieving air pollution and repairing bridges, but the stimulus money doesn’t have as many restrictions to follow.

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According to the real estate forecaster Local Market Monitor, the latest Home Price Forecast has officially listed the Houston-Sugar Land-Baytown metropolitan area as expected to hold some of the strongest home prices in the nation over the next 12 months.

“These are markets that did not have a large boost in home prices over the last few years and therefore, even though the economy is doing poorly, no adjustment in prices has been necessary,” said Ingo Winzer, president of Local Market Monitor. “Steady economic growth and price appreciation have helped these markets remain stable.”

Because of Houston’s past stability in this area of the economy, turmoil is expected to be less profound than in other areas across the nation. This will create numerous opportunities for city- and state-wide growth in both the housing and employment sectors.

Not only has Houston been praised, but the Fort Worth-Arlington, McAllen-Edinburg-Mission, Dallas-Plano-Irving and San Antonio metropolitan areas have also been selected for the Top 10 List of featured top performing markets.

Source: Houston Business Journal

According to a new study from the Brookings Institution, out of the 100 largest metropolitan areas of the Unites States, Texas boasts four of the top five cities to have performed the strongest during the recession through the first quarter of 2009.

The Washington D.C.-based think-tank’s MetroMonitor reports that San Antonio has taken the lead in this study, followed closely by Austin, Houston and Dallas. Oklahoma City came in second, the only out of state city to ranked in the top five. Austin was also one of only two cities, along with McAllen, Texas that actually experienced an increase in economic output over the past year.

“The rankings were based on four indicators: Percent employment change from peak quarter to first quarter 2009; percent change in unemployment rate from March 2008 to March 2009; percent gross metropolitan product change from peak quarter to first quarter 2009; and percent change in housing prices from first quarter 2008 to first quarter 2009.”

Indicators that support this ranking were listed as specializations in energy and government, large amounts of federal hurricane recovery funding for the Gulf Coast, and smaller increases in housing prices during the early and mid-2000s. For these reasons, the Southwest, particularly Texas was able to perform better economically that many other metropolitan areas in the U.S.

Source: Houston Business Journal

Everybody knows that times are tough, but thanks to the American Recovery and Reinvestment Act, the times may be looking up.

The Act went into effect in February and is providing over $100 million of stimulus funding for additional unemployment benefits, according to the Texas Workforce Commission. Qualified job seekers began to see these benefits pay-up in March as they received an additional $25 per week to support them on the road to permanent employment.

However, employers are not contributing to the extra benefits since the increase is federally funded. The benefits are only administered “to workers who become unemployed through no fault of their own and are actively seeking work,” as stated by the Houston Business Journal.

TWC Chairman Tom Paulken has confidence that this stimulus funding will not only support job seekers but will also help revitalize the economy.

If you are currently unemployed and wish to partake of this federal benefit, then hurry, because the increase is effective only for initial claims filed through Dec. 26, 2009.

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A number of positive changes have been sweeping across the greater Houston area. First off, according to new research from Pitney Bowes Business Insight, Houston is one of the top metropolitan areas expected to see quarterly retail sales growth from now and into 2010.

The top contenders are all Texas cities, with the exception of Seattle. Houston ranks fifth on the list for notable scores of strong comparative sales growth, specifically in the drug store and high-end retail. The city was able to earn this rank due to its sales history and ability to remain stable for the past six quarters, despite rough economic conditions elsewhere.

Houston’s strength in the retail sector can be seen to continue as the unemployment rate for the city falls. New figures from the Texas Workforce Commission state that joblessness decreased from 6.6% in March to 6.3% in April, the first major decrease in more than six months. The rate is expected to continue to decline for May, as sales growth comparatively increases. For Texas as a whole, the unemployment rate has held steady at 6.7%, well below the national average of 8.9%.

For the final touch, Houston has recently been ranked within the top 50 of the fittest metropolitan areas. The city’s official ranking is #41 based on strengths that include a lower percentage of people with disability, a lower percentage of people who smoke, a higher percent of city land area as parkland and a higher level of state requirements for physical education classes.

As the fourth largest city in the U.S., Houston may find itself leading the way for a step closer to ideal city living.

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