How will Houston's economy fare over the next 5 years? (Wheeler: sales, transporting)

[texas7]

Obviously not one of the majors. Guess I was only thinking of the majors who've been around forever when I made my comments, Sorry.

[SouthernBoy205]

Typically, how long does a "downturn" last?

[texas7]

That's kind of unpredictable.

[SouthernBoy205]

OK. I was looking at the population growth numbers for Houston during 2008-2009, and people were still moving here in droves. I guess the downturn didn't keep people away.

[bayou_boy]

Something interesting related to the discussion.

US Oil Companies Pressure To Clamp Down On Spending - Business Insider

[Htown2013]

How is the O&G industry faring these days? Do we expect to see any impact to Houston's super hot real estate market?

[julia1999]

I can not talk about other places, but for Katy, the real estate market is slowing down. May be this is just a coincidence, end of the year and oil price slides. Do a search on HAR by yourself, you could see how many properties above 400k are on the market, and how long they have been on the market. Have a look on Avalon Spring Green, their prices fall dramatically.

One more thing, the rental market is not good neither at the moment. Most SFH properties can not achieve $1 psqf at all. As a matter of fact, more than 10 rental properties slashed their rental prices by 10% in the past two weeks! A 210k SFT is struggling to be rented out at $1700.

As someone from Europe, I could only say: American market moves really fast, and changes so quickly..

[Meyerland]

Originally Posted by julia1999

I can not talk about other places, but for Katy, the real estate market is slowing down. May be this is just a coincidence, end of the year and oil price slides. Do a search on HAR by yourself, you could see how many properties above 400k are on the market, and how long they have been on the market. Have a look on Avalon Spring Green, their prices fall dramatically.

One more thing, the rental market is not good neither at the moment. Most SFH properties can not achieve $1 psqf at all. As a matter of fact, more than 10 rental properties slashed their rental prices by 10% in the past two weeks! A 210k SFT is struggling to be rented out at $1700.

As someone from Europe, I could only say: American market moves really fast, and changes so quickly..

Families usually buy in spring and summer. There is always a lull in the real estate market around this time of year in Houston.

[p0opstlnksal0t]

Oil may drop to $50 a barrel



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

[hendersj31]

Although this is technically the slow season for real estate I am also curious to see how the real estate market reacts if the oil prices stay where they are or go lower.
Budgets are already being trimmed for next year. The majors of course will survive but many smaller operations, drilling companies and service companies may not. Also home prices have increased so much since the last time this happened.