Will the real estate market let up at all in 2021?! (Houston: home, bankrupt)

[Austin97]

Originally Posted by Trainwreck20

There is a very high probability at my company that they will encourage WFH for people that would like to. They have sent out surveys to get a feel for what people think/want so that they can plan better for office space.

I think it is likely that office space may go down in price (or increase more slowly) in the near future. We are negotiating our renewal on one of our offices and I am pretty sure that reduced office space vs $/ft2 is part of the discussion.

Our 6K square ft is up at the end of the month. About 30% of people said they definitely want to work from an office, an additional 30% said they would like to occasionally. Once people get vaccinated we will get office space again.

I do think we will try to locate in a retail center instead of traditional office space to be more walkable. Im hoping I can catch the bottom of real estate prices. I wish my lease had ended last year as I would have saved a lot of $$. As it is we might be getting new space as soon as july/aug which only saved about 6 months.

[CarnivalGal]

Originally Posted by 10scoachrick

People have really short memories; but I reckon the amount of money involved mixed with the lifestyle changes of the last 12 months WILL have some lasting impact.
There is one insurance firm down the road that says 700 employees from that campus will remain WFH. That's a chunk from ONE business.

I work as a contractor for a branch of the federal government, and although nothing has been said, I think we will be given the option to WFH for good. And not just the contractors, but the government employees as well.

[ashbeeigh]

Well. It’s been a week and no word on the house. Their realtor thinks almost certainly that there was st least one cash offer. It was a gorgeous house.

[ashbeeigh]

Just a wondering...I wonder what effect this power fiasco will have on out of town relocation? If I were moving from outside of the state I’d be hard pressed to continue to relocation at this point. And then, those that were going to list, will there be several listings in the coming weeks?

[axorb]

People have short attention span. I am confident this whole situation will be forgotten in a month just like it did in 2011

[Dub D]

Originally Posted by ashbeeigh

Just a wondering...I wonder what effect this power fiasco will have on out of town relocation? If I were moving from outside of the state I’d be hard pressed to continue to relocation at this point. And then, those that were going to list, will there be several listings in the coming weeks?

As someone in this exact situation I'm hoping others are stupid enough to be deterred from a once in a generation weather event.

[austinnerd]

Originally Posted by Dub D

As someone in this exact situation I'm hoping others are stupid enough to be deterred from a once in a generation weather event.

Not likely. Many folks are coming from places like Cali, where crazy catastrophic events (e.g. wild fires, earthquakes, governors covid responses) and the govt mismanagement of such events are rather common place. Any dip will be short at best as the reason why folks want to move here ($$$) has not been fundamentally changed by these events.


Act quick if you can, the window is tight.

[Dub D]

Yup that’s me. Coming from California. You nailed it.

I lived in Orlando so I’m familiar with natural disasters.

[CarnivalGal]

Originally Posted by axorb

People have short attention span. I am confident this whole situation will be forgotten in a month just like it did in 2011

Yep. Which is why all the chuckleheads who are responsible for this mess will be reelected.

[SummerGirl05]

Originally Posted by CarnivalGal

Yep. Which is why all the chuckleheads who are responsible for this mess will be reelected.

Maybe, and maybe not. Depending on where the transplants are coming from. I'm coming from Chicago and with me a blue vote. I suspect many Californians and NY-ans are the same.