Austin's booming population is one of its biggest insulators from any potential recession, according to a panel of real estate experts. “The population of Austin is growing at three times the population growth rate of the U.S.,” Mitch Roschelle, partner at PwC and co-publisher of the report, said in a previous interview with ABJ. It was also one of the reasons Austin again ranked No. 1 in the country for real estate investment looking ahead to 2020 in a closely watched September report from PricewaterhouseCoopers and Urban Land Institute. “Population growth begets job growth. Job growth begets opportunities in real estate investment and development,” said Jeff Coddington, senior vice president at Jones Lang LaSalle Inc. Austin’s significant population growth was one of its key differentiators from the other top 20 markets in the report. “Everyone wants a piece of Austin,” panelist Rob Gandy, founding principal of Austin-based Cielo Property Group said. “I think everybody is also seeing other parts of the world that don’t look as great, so I think they are still cautious.” Additionally, Austin is the No. 1 city for industrial investment in 2020, No. 3 for development and redevelopment opportunities, No. 6 for homebuilding prospects, No. 8 for office investment, No. 9 for multifamily investment and No. 7 for buying retail space, according to the PwC and ULI report.
Full Article here: Global reputation, soaring population could make Austin recession-proof, panel says
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