Marcus Hiles Notes Texas Developing Rapidly

Across the state, Texas has shown no shortage of development. Homes are being erected at the fastest pace in Dallas-Fort Worth in nearly a decade, with studies by the University of Texas concluding that employment has consistently trended positively in San Antonio, and UTSA Institute for Economic Development research director Thomas Tunstall expects that “growth will continue to flow into the local economy for years.” Marcus Hiles notes that the best way to continue enlarging the housing market statewide is through sustained enactment of strong laws that protect and grow the labor force. The past several years provide a solid testimony for this position: after the housing bubble crisis decimated real estate values nationwide, the Dallas-Fort Worth metroplex was more resilient than nearly every other major city, and a Fortune article noted that the cause for the robust economy traces back to the “more than 100,000 new jobs added each year in North Texas.” This idea stems from its reputation as being a business-friendly region, with major corporations like Toyota, State Farm and Liberty Mutual relocating to the fourth-most populous American metro area in recent years. Forbes stated that zoning and land-use construction burdens may be eased across the U.S., as the new presidential administration could bring an era of eased regulations and reduced building costs. Relaxed protocols for small banks may allow them to do business differently and encourage development, with flexibility to approve more loans for new housing projects.

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