Houston lauded as a boom town, thanks in large part to its immigrant community
Houstonians should be better off than many others as the nation recovers from the recession. According to Forbes' Joel Kotkin, Houston is one of America's next boom towns.
In order to measure a city's boom potential, the 52 largest metro areas in the country were ranked in various categories based on past, current, and future vitality.
One third of the overall score was comprised of job growth. This measure took into account not only the job market of the last decade, but also paid special attention to the last two years, in order to pinpoint any long-term effects of the Great Recession.
The other two-thirds of the score were made up of a variety of demographic factors, including rates of family formation, growth in educated migration, population growth and "a broad measurement of attractiveness to immigrants."
These factors were selected because, according to Kotkin, "college-educated migrants (who also tend to be under 30), new families and immigrants will be critical in shaping the future."
When all was said and done, Houston ranked in a respectable fifth place among the 52, due to "low housing prices, a stable job market and a vibrant immigrant community."
Houston was not the only Texas city to get a piece of the glory, however. Austin took the No. 1 spot on the list and San Antonio came in fourth. Dallas, our rival to the north, did not fare quite as well, coming in seventh.
Completing the top five were No. 2 Raleigh, N.C. and bronze medalist Nashville.
Do you agree with the rankings and the demise of traditional powers like Los Angeles, Chicago and Seattle? Is it finally Houston's time in the spotlight?