Commercial Loans: Texas is Smoking Hot!
One of the things I do to stay up-to-date on the commercial loan industry is to read industry publications, as well as perusing Google for terms that deal with commercial loans and the lending industry in general. Other clues such as information about thriving cities can truly be beneficial, because when a city is thriving, commercial lenders are more willing to lend money for properties in that area. The Milken Institute recently published their Best Performing Cities Index, which measures U.S. metropolitan areas based on job growth, salaries and wages, and technological output. Five years of aggregated data makes up the information in this index, to account for the normal ups-and-downs of business cycles.
Below Milken’s list of the Top Ten Best Performing Cities in America:
- San Antonio, TX
- El Paso, TX
- Fort Collins-Loveland, CO
- Austin-Round Rock, TX
- Killeen-Temple-Fort Hood, TX
- Salt Lake City, UT
- Anchorage, AK
- Huntsville, AL
- Provo-Orem, UT
- Kennewick-Richland-Pasco, WA
Most of you can connect the dots on this one, but just in case you missed it, four of the top five cities are located in Texas…this gives Texas commercial loans a whole new priority for investors looking to obtain commercial property in emerging (and in some cases re-emerging) cities.
Just some food for thought…if you are interested in obtaining a loan for commercial property in Texas, I am happy to refer you to a database of over 700 commercial lenders. Just click here for more information.
