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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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Have a Dream? Dallas Is Your ‘Magnet of Opportunity’

August 5th, 2013 | by The Update
Have-a-Dream-Dallas-Is-Your-Magnet-of-Opportunity.jpg

With its strong jobs market and burgeoning cultural opportunities, Dallas has become one of the country’s top attractions for the ambitious, according to a new report by The Daily Beast.

That makes Dallas an “aspirational city” or a “magnet of opportunity,” by The Daily Beast’s reckoning.

An aspirational city lures businesses and people from all over the country – which report after report has held true for Dallas. In other words, people come to Dallas to lead a better life.

The formula goes something like this: An aspirational city is two parts economy (Dallas’ excellent business climate and job creation), one part quality of life (good homes for sale, great schools), and one part demographics (population growth, education levels).

What’s all of that mean? Here’s how the writers explain it:

To determine America’s current aspirational hotspots, we focused in large part on economic indicators, such as employment growth, per capita income, and unemployment. But we also took into account demographic factors, such as the growth of domestic migration and the movement of college-educated people and the foreign born.

Finally, we considered quality-of-life factors such as traffic congestion, housing affordability, and crowding—which are keenly relevant to young families hunting for the places with the best “inventory of the possible.” In a sense, we believe aspirational cities reflect a kind of urban arbitrage, where people look for those places that provide not just economic and cultural opportunity but a cost structure that allows them to enjoy their success to the fullest extent.

Click here to read the full article from The Daily Beast.

Click here to read more news about real estate and the economy in Dallas-Fort Worth.

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout Dallas-Fort Worth and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

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