Does Stimulus Mean Surplus?
Many Americans have received their stimulus checks from the government over the past week. This got me thinking about how these checks will play out in the local economy in the coming months.
It doesn’t seem like Austin is in much of a slump. Many companies are still seeing growth in the Central Texas area and it appears that the housing market is still strong, with the number of housing sales decreasing but the prices remaining steady, if not rising. Here’s something that I read in Community Impact about Georgetown and Central Texas:
Growth rate is typically a good indicator of economic strength, and Central Texas is in the midst of a population boom. As people flock to the area, they fill jobs, buy homes and pump dollars into the economy.
“Recent growth rates are very good, and future projections show that Williamson County in particular is in the cross hairs of some excellent long-term growth,” said Mark Thomas, economic development director for Georgetown.
A second indicator is the unemployment rate. Area unemployment is 3.8 percent, lower than the national average of 4.6 percent.
Danny Klingler, project manager at consulting firm Angelou Economics, said real estate is one important reason why the regional economy has been resistant to the nation’s downturn.
“You didn’t have the level of a housing bubble that you had in a lot of other markets, where homes had become ridiculously overpriced. Here it’s been fairly steady. You have a very affordable housing market.”
Has this downturn in the economy affected you? Have you and your family had to cut corners and give up some luxuries to accommodate for the rising cost of living? Is your stimulus money already spent on unpaid bills that need to be caught up or will you be hitting the stores for some stimulating shopping? With food and gas prices constantly rising, will you save some of your stimulus money for possible tougher times down the road? What do y’all think- will these stimulus checks really create a big enough boost in the economy to make a difference?
May 6th, 2008 at 7:49 am
I’ll be using mine to fill up my gas tank over the summer! We will also put a little money into the market with some badly needed clothing shopping.
I still haven’t received mine. Does anyone know when they will all be delivered by?