Thursday, December 15, 2011

Army housing boom in El Paso TX, Fort Bliss, and Biggs

Army housing boom in El Paso TX, Fort Bliss, and Biggs


The expansion of the Fort Bliss Army base under BRAC (Base Closure and Realignment program) in El Paso,Texas has sparked a local building boom and kept the town from feeling the impact of the recession. While the rest of the country has seen home prices fall an average of 20 percent since the hight of the housing boom in 2005-2006, prices in the El Paso and Fort Bliss Texas area have held steady.

The government's 2005 BRAC program, while it hurt some communities, went a long way to breath new life into others. The transfer of thousands of military personnel to Fort Bliss from Germany and Iraq is expected to spark millions of dollars in new construction spending, according to an Army study released last spring. With this run-up in construction, El Paso is also experiencing a huge expansion to it’s infrastructure. The city anticipated this growth and commission a 2 year economic impact study through the local university which predicted a population growth of 16%  by year end 2012. To learn more contact Yvonne Russell, (915) 873-8646


When these soldiers return to the US, those returning military personnel can take advantage of the homebuyer tax credit, which, while it has expired for the most Americans, is still available to active-duty military personnel returning from overseas. (Also see "VA Loans: Homebuying Help for Veterans")




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