Housing, construction boom in BCS

COLLEGE STATION-BRYAN – Most U.S. home builders feel more optimistic about home sales and construction driving economic growth than they have in the last seven years. In Bryan-College Station, things are especially good.

BCS Homebuilders Association President Michael Schaefer says strong local home building this year is contributing to continuing low interest rates, and more people are settling here, increasing demand.

Schaefer says over the last couple of years, developments such as Texas A&M joining the SEC, the new hospital, and the bio-corridor, have contributed to a boom in construction growth, stimulating the local economy through a multiplier effect that will continue.

The bio-corridor is going to be a significant player in the housing market in the next five years, to such an extent that people will be blown away with the amount of jobs generated, Schaefer said.

In the meantime, Schaefer feels construction costs and demand will increase the property values of older houses by 5 to 7 percent each year for the next couple of years.

Schaefer says the desirability for young families and retirees is also increasing, not only from available jobs, amenities, and the location, but because the Wall Street Journal and other articles have designated it an affordable place to live.