Still booming? (Houston, Sugar Land, Sweetwater: home sales, buy, school)

[ToyYot]

Originally Posted by AliefPropOwner

The FED won't raise rates any time soon.

I suspect you may be right.

[usc619]

Originally Posted by AliefPropOwner

The FED won't raise rates any time soon.

I hope you're right, that would be great

[spark20]

To reply to the OP - no, companies in o&g are not hiring and have already started laying off. if you look at home estimated values THOSE are dropping. Inventory is so low though and people are in denial so people are still overpaying for houses and happy to do it. Law of delay will catch up though and prices will drop. This is all artificial so I don't think we are going to see an absolute collapse. But I do foresee this lasting a good 6 months or so at least.

Also, Houston may have diversified it's industries but O&G is still the big dog in town and so much here feeds off of that. If cuts are made - jobs, bonuses, etc. Even that just means less disposable income to be spent in shops and restaurants. I don't think the other industries are substantial enough to absorb the kind of job cuts everyone in the industry knows are coming.

[julia1999]

Originally Posted by AliefPropOwner

The FED won't raise rates any time soon.

Today's FED minute did not boost stock market, what a pity. It did not mention oil either.

[pdouglas]

Originally Posted by ToyYot

You can still listen to A Flock of Seagulls, just don't expect your kids to like it.

I'll quote a few things from the article I posted as I'm sure most will not read it! The bolding is mine...

Not to sure about the quote referencing the number of people working in the Texas Medical Center. MD Anderson has more than 20,000 employees.

[Htown2013]

Originally Posted by spark20

To reply to the OP - no, companies in o&g are not hiring and have already started laying off. if you look at home estimated values THOSE are dropping. Inventory is so low though and people are in denial so people are still overpaying for houses and happy to do it. Law of delay will catch up though and prices will drop. This is all artificial so I don't think we are going to see an absolute collapse. But I do foresee this lasting a good 6 months or so at least.

Also, Houston may have diversified it's industries but O&G is still the big dog in town and so much here feeds off of that. If cuts are made - jobs, bonuses, etc. Even that just means less disposable income to be spent in shops and restaurants. I don't think the other industries are substantial enough to absorb the kind of job cuts everyone in the industry knows are coming.

Its difficult to predict how long this will last, but duration and severity are key. In 2009 many O&G companies were not hiring and laying off.

[houstonfan]

Yes, layoffs are starting in some companies. So far nothing drastic yet but lets hope this is a short term price drop, which my friends in OG tell me it is, although they r worrying

[SouthernBoy205]

Originally Posted by houstonfan

Yes, layoffs are starting in some companies. So far nothing drastic yet but lets hope this is a short term price drop, which my friends in OG tell me it is, although they r worrying

How do they know that this short term? What are the reasons?

[Trae713]

Originally Posted by SouthernBoy205

How do they know that this short term? What are the reasons?

They don't know. They're guessing like all of us.

[SouthernBoy205]

Originally Posted by Trae713

They don't know. They're guessing like all of us.

Point exactly. No one knows anything, but yet, everyone, especially the ones who are pessimistic, think they know what they're talking about.