If there was ever any doubt how much Houston depends on oil... (Galveston: price, estate)

[Dopo]

Originally Posted by peterlemonjello

No one is getting it worse than North Dakota....

With the huge boom they had the last 4 years, it shouldn't surprise anybody

[lipbalm]

a bunch of people I work with are moving out of Houston for new career opportunities. Trend does not bode well and feel like the writing is on the wall like rats leaving a sinking ship (hope I am wrong). I will hold out as long as possible but I think next year might get worse and not better. Thankfully I am flexible and can move away if needed since I don't have any family ties to the area.

[cBach]

Originally Posted by lipbalm

a bunch of people I work with are moving out of Houston for new career opportunities. Trend does not bode well and feel like the writing is on the wall like rats leaving a sinking ship (hope I am wrong). I will hold out as long as possible but I think next year might get worse and not better. Thankfully I am flexible and can move away if needed since I don't have any family ties to the area.

Are these people with careers in the oil industry? Where are they moving?

The problem with Houston has always been that people move here for the jobs and if those jobs leave, they leave.

[testmo]

People are being laid off, but also being hired. There are new graduates in engineering moving to houston starting jobs.

[NTexas2010]

Originally Posted by lipbalm

a bunch of people I work with are moving out of Houston for new career opportunities. Trend does not bode well and feel like the writing is on the wall like rats leaving a sinking ship (hope I am wrong). I will hold out as long as possible but I think next year might get worse and not better. Thankfully I am flexible and can move away if needed since I don't have any family ties to the area.

Your analogy implies that Houston will figuratively sink into the abyss, never to recover.

A.) The 80s oil bust (and re-growth that followed) is proof Houston will never be "sunk" by the cyclical nature of oil.

B.) As many have already stated, Houston is not an Oil-only town these days. I am employed in the pharmaceutical industry, which gives very little thought as to the goings-on of the energy industry and what the price of oil is.

C.) Many have also noted that Houston is an employment town, and people will come and go with employment. Frankly I wouldn't mind a slow down in the explosive growth the greater Houston area has seen with this last boom - perhaps a steady trickle of growth wouldn't be such a bad thing right now.

[crone]

Houston had many successful and lasting business startups during the 80s downturn.

[Yellow pool of piddle]

Originally Posted by NTexas2010

Your analogy implies that Houston will figuratively sink into the abyss, never to recover.

A.) The 80s oil bust (and re-growth that followed) is proof Houston will never be "sunk" by the cyclical nature of oil.

B.) As many have already stated, Houston is not an Oil-only town these days. I am employed in the pharmaceutical industry, which gives very little thought as to the goings-on of the energy industry and what the price of oil is.

C.) Many have also noted that Houston is an employment town, and people will come and go with employment. Frankly I wouldn't mind a slow down in the explosive growth the greater Houston area has seen with this last boom - perhaps a steady trickle of growth wouldn't be such a bad thing right now.

The problem with a one industry town is the amount of time that it will take for citizens to accept the circumstance of a downturn and bite the bullet. Houston does have a very busy port, but most of its product is energy related. Even the economy of the health care industry is going to be determined by energy domination. Local politics is influenced by it. A major difference between today's bust and the one during the eighties is the honesty of the local media. Simply put, Houston no longer has a local media, but, like every place else in the world, the local media was allowed to be bought up by national and international corporations. When all the media operates on national and international levels, nothing is ever allowed to be written contrasting doom. Instead, all things get compared as wonderful. Buck up, little Pee Wee! Indeed, Houston is still this nations miracle economy. This is only a hiccup. In time, war and a shortage of oil will wreck this latest rise in the economy to once again project a global spotlight onto the Houston region.

[NTexas2010]

Originally Posted by Yellow pool of piddle

The problem with a one industry town is the amount of time that it will take for citizens to accept the circumstance of a downturn and bite the bullet. Houston does have a very busy port, but most of its product is energy related. Even the economy of the health care industry is going to be determined by energy domination. Local politics is influenced by it. A major difference between today's bust and the one during the eighties is the honesty of the local media. Simply put, Houston no longer has a local media, but, like every place else in the world, the local media was allowed to be bought up by national and international corporations. When all the media operates on national and international levels, nothing is ever allowed to be written contrasting doom. Instead, all things get compared as wonderful. Buck up, little Pee Wee! Indeed, Houston is still this nations miracle economy. This is only a hiccup. In time, war and a shortage of oil will wreck this latest rise in the economy to once again project a global spotlight onto the Houston region.

Yes?

[Yellow pool of piddle]

Originally Posted by NTexas2010

Yes?

I am implying that a huge part of the problem is deniability by locals. That type of deniability doesn't happen in North Texas because of true diversity. For example, both the defense and energy slump are holding the Fort Worth area back right now. An energy industry making up fifty percent of the overall Houston economy is not diverse. It bullies and dominates every aspect of the economy from healthcare, to politics, to the ship channel and to what the local median reports on it.

I will provide you with an example of this new brand of fascist media if you wish.

Long term investors stepping in to invest today have created false indicators for an improving Houston economy. The grocery store companies are a great example of this. They are buying choice properties today knowing that such prices won't tumble any more. They then build on those properties taking advantage of lower construction costs. Still, expect a blood bath to take place eventually.

[cBach]

Originally Posted by Yellow pool of piddle

The problem with a one industry town is the amount of time that it will take for citizens to accept the circumstance of a downturn and bite the bullet. Houston does have a very busy port, but most of its product is energy related. Even the economy of the health care industry is going to be determined by energy domination. Local politics is influenced by it. A major difference between today's bust and the one during the eighties is the honesty of the local media. Simply put, Houston no longer has a local media, but, like every place else in the world, the local media was allowed to be bought up by national and international corporations. When all the media operates on national and international levels, nothing is ever allowed to be written contrasting doom. Instead, all things get compared as wonderful. Buck up, little Pee Wee! Indeed, Houston is still this nations miracle economy. This is only a hiccup. In time, war and a shortage of oil will wreck this latest rise in the economy to once again project a global spotlight onto the Houston region.

The port is kind of a victim of its own success. It is a long port, 30 something miles, but almost all of the large real estate is taken up.

Lake Charles is actually taking business away from the Houston Port because they have plenty of land over there.

Interesting article:

American Press - Home

I find it ironic that a small Louisiana town can siphon away Houston's business because of, well Houston's success.

Ironically, Houston siphoned off business from New Orleans a long time ago. But New Orleans is so far upriver from the mouth of the Mississippi that it will never run out of land. Over time these cities will be competing and it'll be interesting to see how this plays out.