rgvmarket

According to the University of Texas A&M Real Estate Research
Department statistics, from 2000 to 2006 new unit construction housing
starts between 2000 to 2006 were keeping pace with the area population
growth but not anymore. In Cameron County new unit bulding permits
have declined by 70% since 2005;

New construction will take a time to return to a equilibrium while the
RGV and Texas continue to see steady population growth. According
to the US census, as reported by money.CNN.com , Texas has 4 of the
10 fastest growing cities. There are over 500 US metropolitian areas
and According to census figures, Brownsville ranked 50 and McAllen
ranked moved from 14th place 2007-2008 to 8th place for 2008 to 2009
population growth. Also McAllen was the reported to be "the only
major city in the country" leading in employment and output in the
1st half of 2009, reported by Realty Times.

The RGV is becoming an attractive lower cost alternative to retiring
'baby boomer' seniors for a good reason. Home prices here are 30% to
50% cheaper than comparable homes in Flordia, Arizona and
California.

Texas population growth is accelerating while California and Florida
growth is slowing.

Land and Housing is a limited comodity and will always be in
Investor demand.

Contact us to start your way to financial independance.

Go to our BDJ blog to for more market info and stats

The foreclosure trend was decreasing but in recent months it looks like a
another wave has begun. Month end April 2010 the MLS data showed
Brownsville/Olmito/Los fresnos/Rancho had 49 closings and 27% were
lender foreclosure resales.

What happens when population grows faster than the housing supply?

From 1999 to 2006, there was approximatly 1 new unit of housing
built for every 2 new residents. By the end 2010 there was only 1 new
unit built for every 7.0 new residents.

The A&M data show that the housing starts are no longer keeping pace
with population growth. Damand for housing is increasing faster than
the supply of new homes and apartments. Older existing homes are
being demolished and abondoned. Foreclosed home owners are now
renters adding to the demand in the residential and comerical housing
rental market. The local fair market rental rates are actually increasing
as reported buy the U.S. Department of Housing and Urban
development (HUD) data;