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Old 01-09-2015, 11:29 PM
 
17 posts, read 29,593 times
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I was looking at buying a house around 700 k range (14 k sq foot lot size with 5 bedroom). I was considering Imperial Quiet Cove Sugar Land of Lakes of William Ranch in Richmond. Is it better to rent till the prices come down or buy now? Despite the oil prices, all the projections I read indicate a slow down but still reporting a 3-6% increase in real estate for 2015. Any predictions beyond 2015?
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Old 01-09-2015, 11:59 PM
 
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SW Houston usually means something else which you should stay far away from. Talking about 3-6% this or that is a fool's game. How long are you staying? Do you like the area? Are you close to work? Do you need a house? Do you want to rent and move your life, remove your kids from school?

If you need a house and plan on being here for a few years, buy a house and settle down. Houston isn't going anywhere in the next 5-10 yrs.
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Old 01-10-2015, 12:02 AM
 
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I have family in the area and plan on settling here for a while. I am not sure where I will be working in ten years. Currently will be working in the med center. What do you mean when you say Houston is not going anywhere in 5-10 years?
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Old 01-10-2015, 12:08 AM
 
89 posts, read 133,998 times
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Quote:
Originally Posted by psyguru View Post
I have family in the area and plan on settling here for a while. I am not sure where I will be working in ten years. Currently will be working in the med center. What do you mean when you say Houston is not going anywhere in 5-10 years?
the drop in oil won't be an issue IMO. why are you attempting to calculate minor percentage points on long term real estate? it's obviously a guessing game and silly question to ask for details. houston is still on the up. if you have a job, family and reason to stay, you should have no qualms about buying a home in your desired neighborhood. period.
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Old 01-10-2015, 02:13 PM
 
167 posts, read 248,001 times
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Later in 2016
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Old 01-10-2015, 04:02 PM
 
17 posts, read 29,593 times
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Quote:
Originally Posted by AliefPropOwner View Post
Later in 2016
What is expected to happen in 2016?
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Old 01-10-2015, 04:04 PM
 
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Originally Posted by psyguru View Post
What is expected to happen in 2016?
Don't ask... get ready and don't forget the popcorn
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Old 01-10-2015, 04:33 PM
 
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Quote:
Originally Posted by psyguru View Post
What is expected to happen in 2016?
Flow through effects of what IS happening right now.
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Old 01-11-2015, 07:45 AM
 
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The same thing that happened in 2009 will happen now. A slight cooling of the market. Inventory is low, so it will take awhile because demand is still there. There will be no drastic fall in prices, even in 2016.

You would think this is the first time there has been a huge drop in the oil price from the reaction on this board.
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Old 01-11-2015, 08:20 AM
 
167 posts, read 248,001 times
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Quote:
Originally Posted by Meyerland View Post
The same thing that happened in 2009 will happen now. A slight cooling of the market. Inventory is low, so it will take awhile because demand is still there. There will be no drastic fall in prices, even in 2016.

You would think this is the first time there has been a huge drop in the oil price from the reaction on this board.
Today is completely different than 2009. The "low inventory" memoir we keep reading about is based upon current boom time rates of home sales. When the rate of sales of homes stalls, inventory will balloon very very quickly. Inventory is a predictive time series measurement using current home sales clearing rates.

By late 2015 and on into 2016 we'll be witnessing housing bust.
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