How will Houston's economy fare over the next 5 years?

[texsn95]

Originally Posted by p0opstlnksal0t

Oil may drop to $50 a barrel

http://finance.yahoo.com/news/oil-ma...211726433.html

It would take alot more than just 1 hedge fund manager saying that to believe it.

[PDXNative2Houston]

Until a new energy technology comes and wipes out our dependence on fossil fuels, Houston will do just fine. We will have the ups and downs and ebs and flows of the market, but Oil will continue to be a money maker for a long time.

With that said, even if new said technology is adopted, who is to say Houston wouldn't just gobble it up? All of the majors and independents are the *best* in the world at taking a resource, converting it in to usable energy and transporting it to retail consumers. With the amount of capital they have I see no reason as to why they wouldn't re-tool their infrastructure to accomodate the new technology....leaving Houston as the energy capitol of the world.

[Jack Lance]

Houston's real-estate market still has not cooled, in fact it got hotter than normal in October.

A hot October shows local housing market still favors sellers

By Nancy Sarnoff

November 12, 2014 | Updated: November 12, 2014 11:21pm

Houston's weather may have cooled in October, but the housing market kept heating up.
Single-family home sales were up 12 percent over the same time last year as many Houstonians focused on inspections and mortgages instead of Halloween costumes and holiday planning.

"Most Realtors are not accustomed to this brisk a pace of home sales in Houston this late in the year," Chaille Ralph, chairwoman of the Houston Association of Realtors, said Wednesday in a monthly housing report. "This is typically when thoughts turn to the holidays and sales volume slows."

A hot October shows local housing market still favors sellers - Houston Chronicle

[p0opstlnksal0t]

If O&G slows so will the housing market.

[Jehas0604]

I have a buddy who works at Baker Hughes. He is (obviously) very concerned about his company being bought by Halliburton. Up to 20,000 Baker employees could be laid off if the deal goes through. Also you may see a flurry of M&A activity which would lead to more layoffs. These are good, quality middle to upper-middle class jobs.

We are headed for very interesting times.

[ipuck]

When oil price is $100, a lot of dumb people look very smart and companies that have no business being around is flourishing.

It is a different game when it is $80 and trending downward. There is alot of smaller players out there that are highly leveraged and another 6 months of this the bottom might fell out.

The service firms were the first one affected since business has dried up a bit. I think one of the larger engineering firms merged last week with Wheeler. Now is the equipment getting consolidated.

[Jack Lance]

Originally Posted by p0opstlnksal0t

If O&G slows so will the housing market.

That's my point . The housing market hasn't slowed as of yet, and my guess is people will stop buying houses a few months before any systemic layoffs occur. People tend to be aware of how secure their employment is, and of course lending institutions keep close tabs on the local employment picture as well.

[jfre81]

Originally Posted by Jack Lance

People tend to be aware of how secure their employment is

"Famous last words"

[p0opstlnksal0t]

Originally Posted by Jack Lance

and my guess is people will stop buying houses a few months before any systemic layoffs occur. People tend to be aware of how secure their employment is

ya right...

[ipuck]

Originally Posted by ipuck

The service firms were the first one affected since business has dried up a bit. I think one of the larger engineering firms merged last week with Wheeler. Now is the equipment getting consolidated.

Was i right or was i right. Right after i wrote this, Halliburton announce the merger.