El Paso didn't see home price rush with the real estate bubbles of 2000 to 2007, which helped pillow the blow from the housing crisis. Plus though home prices haven't precisely increased much with the boom in construction, they have remained steady, only hardly coming off their peak.
This is momentous, especially since home prices nationally have fallen around 20% since boom times, says Ross DeVol, the institute's supervisory director of economic do research. The El Paso home creation boom is habitually seen in multi-family units instead of single-family homes. And since of the transient nature of military life, the largest parts of the units are occupied by renters as disparate to owners.
"Armed construction stem from the BRAC-initiated expansion at Ford Bliss carry on contributing to the metro's overall growth," the Milken Institute's report notes. "El Paso real estate has remained in the upper stratum in terms of both job creation and wage and salary enlargement."
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