The Dallas – Fort Worth housing market has experienced significant growth thus far in 2013, and helping matters has been a booming local economy, which was further enhanced by an injection from the Dallas / Fort Worth International Airport.
According to a recent report from The Dallas Morning News, the airport generated $31.6 billion in economic activity in 2012 in the North Texas region, which has led to the area being referred to as “aerotropolis.”
“Dallas/Fort Worth International Airport is one of the jewels of our region and the world,” Dallas Mayor Mike Rawlings said in a welcome speech at the nearby Hyatt Regency Hotel, emphasizing the importance of supporting the airport, according to the news source. “(The concept) is here, and Dallas-Fort Worth is getting closer and closer to this.”
The North Texas Center of Economic Development and Research conducted the economic impact analysis that far exceeded original projections in the $15 to $16.8 billion range, according to the news source, and the most recent projection included $16 billion from the airport’s air cargo activity.
The term aerotropolis was originally introduced by John Kasarda, director of the Center for Air Commerce at the University of North Carolina.
“The fastest, best-connected places will win” in the new global economy, he told the news source. “We are seeing airport-centered urban forms emerging across the world.”
Although the two might not seem connected on a surface level, the fact remains that a bustling local economy will help, and be helped by, a booming local housing market. Such is the case in North Texas and its inherent communities, including Stephenville. If you’d like to learn more about Stephenville real estate opportunities, contact our team of real estate professionals today.