Will Sugar Land home values increase with little to no new construction supply? (Houston: employment, university)

[Bornhouston]

Originally Posted by LocalPlanner

In the past, the oil and gas industry always managed to expand, despite the occasional (severe) downturns. However, from all appearances, while a major downturn doesn't appear imminent, there doesn't seem to be any prospect for expansion in oil and gas. And outside Health Care, Houston hasn't developed any other substantial industries to give dynamism to our economy and fill our office towers. People are focused on tech because it's been such a major drive of white-collar employment growth in Austin and elsewhere, but it's not the only industry Houston could tap into. DFW has been getting fantastic growth across a range of primary industries, for example.

So, if the oil and gas industry has a stagnant jobs and growth outlook for the foreseeable future, where will Houston's economic dynamism come from - what kinds of PRIMARY industries will bring economic health and growth here? Only biomedical research and development seems like something that we're potentially well set for, and that's historically been a big struggle. Maybe the Spaceport can bring new things, but our aerospace industry overall has been stagnant for the last 20 years. Talent to develop new business concepts and industries to our region doesn't seem to be migrating here the same way it does to DFW and Austin.

So, there's very much an existential question about Houston's future economic role in the national and global economy right now.

So do you not believe that these concerns are being addressed? In my opinion they are being addressed by projects such as TMC3 and The ION.

[LocalPlanner]

Originally Posted by Bornhouston

So do you not believe that these concerns are being addressed? In my opinion they are being addressed by projects such as TMC3 and The ION.

Those are definitely attempts to address the issue. Will they be meaningfully successful? That's what we don't know. Part of the problem is that venture capital has generally not flowed to non-oil-and-gas businesses in Houston, or when it does, the providers require the businesses to leave Houston for Austin or the West Coast. That cycle will have to be broken, or another way around figured out, for this all to work.

[jd433]

The concerns are being addressed however .....
What the heck! We wait until 2018 to wake up and realize that we need to develope a start up culture??? Are you serious? The 4th largest City in the country. Isnt that too little too late?
When was the last time that Houston seduced a fortune 500 company to relocate from California? We just told UT that we don't want their massive data research center in our town so get the heck out!! We had a senator who for years denied funding for commuter Rail. Cant you see that big oil and a selfish imperialistic Houston have controlled the entire region for decades. Why dont we have more incorporated cities? The Houston area has some of the largest unincorporated areas in the country. H-town has the largest EJT in the country. Heck the Katy mills mall had to fight to the death to get out of the Houston EJT. Houston needs to release its EJTS so that they can develope as separate Cities and get away from Houstons control. Yes that may make Sugar Land more valuable.

Originally Posted by Bornhouston

So do you not believe that these concerns are being addressed? In my opinion they are being addressed by projects such as TMC3 and The ION.

[WRM20]

Originally Posted by jd433

The concerns are being addressed however .....
What the heck! We wait until 2018 to wake up and realize that we need to develope a start up culture??? Are you serious? The 4th largest City in the country. Isnt that too little too late?
When was the last time that Houston seduced a fortune 500 company to relocate from California? We just told UT that we don't want their massive data research center in our town so get the heck out!! We had a senator who for years denied funding for commuter Rail. Cant you see that big oil and a selfish imperialistic Houston have controlled the entire region for decades. Why dont we have more incorporated cities? The Houston area has some of the largest unincorporated areas in the country. H-town has the largest EJT in the country. Heck the Katy mills mall had to fight to the death to get out of the Houston EJT. Houston needs to release its EJTS so that they can develope as separate Cities and get away from Houstons control. Yes that may make Sugar Land more valuable.

Why would Houston do that. It wants to avoid the fate of Dallas, which can't grow at all, since it's surrounded by other incorporated entities. Plus, Houston isn't going to give up all that sales tax money it gets from the ETJ.

[curbur]

I'm personally very concerned that the gulf coast could very well be the next rust belt economic downturn the U.S. has if the energy sector jobs go away in the coming decades. Not really sure what to say at that point. Houston has probably hit a critical mass in size that I don't ever see it just eroding away if things in oil go by the wayside, however, it certainly could become a shell of its former economic prosperity. We very well could be living in the gilded age of Houston's economy (or did so during the last boom cycle) and the fall around the corner will be witnessed within our lifetimes.. hopefully not though. Due to the seemingly permanent changes in the global economy surrounding energy either underway or what appears will be underway in the coming decades, I wonder how many more boom/bust cycles the oil industry will have again, if anymore at all. I really hope the boom of the early 2010's wasn't the last one we have before fossil fuels lose their current scope of economic importance.

[jd433]

Well this concern is far more wide spread than just the gulf coast. Oil is one of the largest sources of wealth in the world. It is definitely in the top 5 maybe behind real estate, water, food and government. It generates a tremendous amount of tax revenue. There are estimated to be about $125 TRILLION worth of Oil reserves in the world today and $2 trillion worth of oil is consumed every year. That does not include Natural Gas and other resources.
First of a if there is a decline it wont happen over night. It's not like we can get rid of all the petrol fuels tomorrow. Oil consumption is actually rising right now. So consumption would have to stop increasing before it can decrease.
I wouldn't worry too much about an oil apocalypse that is very unlikely for now. HOWEVER!If Houston is going to thrive it needs to develope an economy of the future perhaps in AI or Data or Bioscience. We also need to attract more talent. Our image was injured by the flooding and by Oil and Gas becoming unpopular so we need to work on that. We already have a weather problem. Most Americans will tell you that they dont like the humidity here or the hot weather and lack of natural features.

Originally Posted by curbur

I'm personally very concerned that the gulf coast could very well be the next rust belt economic downturn the U.S. has if the energy sector jobs go away in the coming decades. Not really sure what to say at that point. Houston has probably hit a critical mass in size that I don't ever see it just eroding away if things in oil go by the wayside, however, it certainly could become a shell of its former economic prosperity. We very well could be living in the gilded age of Houston's economy (or did so during the last boom cycle) and the fall around the corner will be witnessed within our lifetimes.. hopefully not though. Due to the seemingly permanent changes in the global economy surrounding energy either underway or what appears will be underway in the coming decades, I wonder how many more boom/bust cycles the oil industry will have again, if anymore at all. I really hope the boom of the early 2010's wasn't the last one we have before fossil fuels lose their current scope of economic importance.

[Corridor Chick]

Originally Posted by WRM20

Why would Houston do that. It wants to avoid the fate of Dallas, which can't grow at all, since it's surrounded by other incorporated entities. Plus, Houston isn't going to give up all that sales tax money it gets from the ETJ.

Houston might be benefiting from its ETJ, but the residents aren't. Started working in Mission Bend recently, and I came upon this article:

http://https://www.houstonchronicle....ds-5780537.php

It may be five years old, but other than the county judges, not much has changed. Who's to say what happened to MB doesn't happen to all the new MPCs along 99 in 40 years? These areas might do better if they could incorporate.

[WRM20]

Originally Posted by Corridor Chick

Houston might be benefiting from its ETJ, but the residents aren't. Started working in Mission Bend recently, and I came upon this article:

http://https://www.houstonchronicle....ds-5780537.php

It may be five years old, but other than the county judges, not much has changed. Who's to say what happened to MB doesn't happen to all the new MPCs along 99 in 40 years? These areas might do better if they could incorporate.

Very few of them want to incorporate. They like not paying city property taxes, even though their MUD taxes are often higher than city taxes would be.

[Redlionjr]

Originally Posted by WRM20

Why would Houston do that. It wants to avoid the fate of Dallas, which can't grow at all, since it's surrounded by other incorporated entities. Plus, Houston isn't going to give up all that sales tax money it gets from the ETJ.

Fate of Dallas? I'll take DFW's metropolitan landscape full of incorporated cities over Houston's unincorporated metro anyday . It's much more convenient and managed better overall than what we have here in Houston.

[Burnley]

Sugar Land home values are very expensive I can’t find anything in New Territory for under $240k and OP is worried about prices not appreciating.