Still booming? (Houston, Center, Morgan: foreclosed, brokers, big house)

[Pine to Vine]

Just curious. Oil is now at less than $45 with high stockpiles: Oil tumbles; U.S. crude prices near six-year low on record stockpiles | Reuters.

Any new signs of the boom slowing down at bit: hiring on hold? real estate not quite as hot? retail sales down? Or does it remain "go-go."

[Jack Lance]

Originally Posted by Pine to Vine

Just curious. Oil is now at less than $45 with high stockpiles: Oil tumbles; U.S. crude prices near six-year low on record stockpiles | Reuters.

Any new signs of the boom slowing down at bit: hiring on hold? real estate not quite as hot? retail sales down? Or does it remain "go-go."

Haven't you been reading this thread ? Or one of the other threads on this subject, //www.city-data.com/forum/houst...ave-begun.html One day of price change either up or down isn't going to change things much.

[Pine to Vine]

Originally Posted by Jack Lance

Haven't you been reading this thread ? Or one of the other threads on this subject, //www.city-data.com/forum/houst...ave-begun.html One day of price change either up or down isn't going to change things much.

Yea, I've been reading the thread. In fact, I'm the OP. The news is that it appears the low price of oil is not so much a daily "thing" but signs are that this level may be taking on a bit of permanent. So, I ask again:

Any new signs of the boom slowing down at bit: hiring on hold? real estate not quite as hot? retail sales down? Or does it remain "go-go."

[ipuck]

The last major bust in the 80s took almost 2 years before the housing market collapse.

The current layoffs happening is only 5-10% and not anything drastic in assumption oil would be back up.

Now that maybe the reality has sink in that price might not go back up to 80s and higher, i think the companies would start working to lower their cost to be able to be profitable at $50.

I think by June if oil price is still under $50, I think we will see some major restructuring.

[SouthernBoy205]

Originally Posted by ipuck

The last major bust in the 80s took almost 2 years before the housing market collapse.

The current layoffs happening is only 5-10% and not anything drastic in assumption oil would be back up.

Now that maybe the reality has sink in that price might not go back up to 80s and higher, i think the companies would start working to lower their cost to be able to be profitable at $50.

I think by June if oil price is still under $50, I think we will see some major restructuring.

This is a great and honest post from you!

[soletaire]

Houston, Texas - In Photos: America's Fastest-Growing Cities 2015 - Forbes

Id say its still humming right along for now.

Houston, Texas - In Photos: America's Fastest-Growing Cities 2015 - Forbes

[SouthernBoy205]

Originally Posted by soletaire

Houston, Texas - In Photos: America's Fastest-Growing Cities 2015 - Forbes

Id say its still humming right along for now.

Houston, Texas - In Photos: America's Fastest-Growing Cities 2015 - Forbes

Houston is going to continue to be a job powerhouse. I believe that!

[SouthernBoy205]

They are talking about expanding the Grand Parkway already. They should have known that a total of 4 main lanes wasn't going to be enough.

Grand Parkway paves the way for growth - Community Impact Newspaper

[Pine to Vine]

Schlumberger, Halliburton, Baker Hughs and BP have announced major layoffs and industry experts are saying the pain has just begun: Oil Industry Layoffs Have Begun - and Will Only Get Worse - DailyFinance.

Do locals now feel Houston has sufficiently diversified its economy so that a bust in energy will not have a significant impact on the city's booming economy?

[chris_ut]

Oil is back over $50 and a lot of people are calling a bottom. Looks like late-08 - 09 over again. Be slow for 1-1.5 years then back to boom times for 4 or 5 years until it crashes again.