Texas income growth leads the nation

During the past 10 years, personal income across the Lone Star State surged 71 percent.The national housing market has been held back during recent years as a result of stagnant incomes. However, many residents of Texas will be pleased to hear the state led the nation in income growth in the last decade.During the past 10 years, personal income across the Lone Star State surged 71 percent from a total of $626.7 billion in 2002, to $10.7 trillion in 2012, the Houston Business Journal reports. That means, the state accounted for more than 8 percent of the country's income growth during this period.In large part, an economy and housing market which emerged from the recession and real estate bubble burst relatively unscathed contributed to the income growth. For example, the Texas unemployment rate in August was almost an entire percentage point below the national rate.??On a local level, Houston continues to have a one of the strongest economies in the state. This is the result of the presence of a number of universities as well as being a hub for the energy industry. Buyers interested in Houston real estate should try to make the transition to homeownership while mortgage rates and prices are affordable. Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

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