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Old 05-10-2022, 01:16 PM
 
Location: OC
12,839 posts, read 9,562,557 times
Reputation: 10626

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Quote:
Originally Posted by ForgotTheMilk View Post
I own in Houston in the loop and it's not a competitive housing market at all; the value of my home has barely gone up.
I think Houston is still increasing at a 15% clip
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Old 05-10-2022, 01:20 PM
 
Location: OC
12,839 posts, read 9,562,557 times
Reputation: 10626
Quote:
Originally Posted by SanJac View Post
Where exactly do you live inside the loop where it is not a competitive housing market?

You keep saying things like “Houston isn't adding as many high-income jobs as Austin or DFW” but isn’t the average salary in Houston higher than in both of those places?
No
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Old 05-12-2022, 01:51 AM
 
32 posts, read 21,939 times
Reputation: 56
Quote:
Is your inner loop property either a) a $1MM+ property or b) a zero-lot-line 3-story townhome type of residence? If not, it would seem odd that it has barely gone up in value.
Mine is a fairly standard condo in Montrose, and it doesn't seem unusual for the area. It is rather disappointing that it hasn't accrued much value, but I suppose during Covid, everyone wanted to get for space in the suburbs. There's also tons of new high-rise and smaller condos going up in the area. Below are some listings in the area that haven't accrued much value, so it doesn't seem uncommon.

https://www.redfin.com/TX/Houston/41.../home/30696336

https://www.redfin.com/TX/Houston/24.../home/66046773

https://www.redfin.com/TX/Houston/48.../home/29318992

https://www.redfin.com/TX/Houston/19.../home/29412259


Quote:
My far-west suburb (where Richmond meets Katy) tract home that I bought in 2019 and sold in 2021 went up 27% in the 18 months I owned it. I built a house even farther out (west of Fulshear). I moved in a year ago - its up roughly 20%+ in just a year.
I can definitely see that happening out in Katy and the suburbs.
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Old 05-12-2022, 06:58 AM
 
Location: Fort Worth, TX
2,511 posts, read 2,215,003 times
Reputation: 3785
Be glad that it didn't go up. Mine went up 35%.
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Old 05-16-2022, 05:24 PM
 
Location: Houston
5,614 posts, read 4,939,687 times
Reputation: 4553
Oh, so you have a condo. Condos in Houston are notorious for not rising in value anywhere near the same rate as single family detached or even attached townhomes.
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Old 05-20-2022, 02:53 PM
 
Location: C.R. K-T
6,202 posts, read 11,452,611 times
Reputation: 3809
Quote:
Originally Posted by LocalPlanner View Post
It's a competitive housing market everywhere, inside and outside the Loop, and around the state and nation. That said, housing prices can only be pushed up as much as incomes and local wealth allow, short of irresponsibly loosening credit.

I've never seen any statistic indicating that salaries are higher in Houston than other TX metros. The oil and gas industry (including the technical / professional services companies that feed off of it) pays very high wages, but its salad days ended by 2015, especially for white-collar positions that pay the most. The tech industry in Austin, and the white-collar industries that are expanding in DFW (they also have tech), often pay similar to oil and gas wages - and they are growing, pretty rapidly, in those metros. Houston hasn't found a replacement yet for the oil and gas industry to rapidly grow high volumes of such high-wage jobs, though the seeds of other such industries are being planted and may produce that in the future, which would help cause faster appreciation of home prices in preferred Loop neighborhoods.
Tech tends to be slave wage when divided by the hours (actually) worked and DFW white-collar office jobs tend to be semi-skilled positions (think paper pushers).

Houston tends to employ skilled professionals, notably O&G engineers. Nurses, doctors, allied medical is big because of the medical industry. Don't forget about the rocket scientists in Clear Lake!

If you want to talk about other overlooked industries, Houston is a magnet for the legal field for Texas and the South Central U.S. Not surprised Jim Adler started his firm here instead of going back home to Dallas. Fulbright & Jaworski and Bracewell (formerly "& Giuliani") are HQ in Houston.

Wouldn't put too much on tech (and Austin). Looks like the "dot.com" bust is back on the 20-year cycle again. Everybody was bullish on WFH being a permanent fixture (with tech industry benefiting), but back-to-the-office is the post-COVID reality. Then Netflix triggered a domino effect with entertainment. Looks like VCs are running out of money with the Fed raising interest rates.

https://finance.yahoo.com/news/tech-...175749210.html

Quote:
Originally Posted by SanJac View Post
Where exactly do you live inside the loop where it is not a competitive housing market?

You keep saying things like “Houston isn't adding as many high-income jobs as Austin or DFW” but isn’t the average salary in Houston higher than in both of those places?
I call him MediocrePlanner because of the contradictions.

Quote:
Originally Posted by rabbit33 View Post
The real estate industry has y'all hornswoggled into believing that increased fixed costs somehow indicate an increase in wealth. Housing is the only consumable item of daily existence where people believe this. Gas goes up and there's an outcry from the entire political spectrum: "Do something!" Housing goes up and it's reported as a positive.
Rising real estate prices have a different effect in Texas: increased property taxes (the majority of the tax revenue stream). That has caused an outcry that the Republican Legislature enacted more valuation reforms recently.
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Old 05-23-2022, 08:55 AM
 
1,952 posts, read 828,762 times
Reputation: 2670
I wish mine did not go up....my property taxes are now insane.


There is an upside to your property NOT going up in value.
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Old 05-23-2022, 05:17 PM
 
Location: Austin Metroplex, SF Bay Area
3,429 posts, read 1,563,849 times
Reputation: 3303
Quote:
Originally Posted by rabbit33 View Post
The real estate industry has y'all hornswoggled into believing that increased fixed costs somehow indicate an increase in wealth. Housing is the only consumable item of daily existence where people believe this. Gas goes up and there's an outcry from the entire political spectrum: "Do something!" Housing goes up and it's reported as a positive.
Depends on the situation. It's beneficial for some, not for others.
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Old 05-23-2022, 08:26 PM
 
3,217 posts, read 2,357,555 times
Reputation: 2742
Quote:
Originally Posted by KerrTown View Post
Tech tends to be slave wage when divided by the hours (actually) worked and DFW white-collar office jobs tend to be semi-skilled positions (think paper pushers).

Houston tends to employ skilled professionals, notably O&G engineers. Nurses, doctors, allied medical is big because of the medical industry. Don't forget about the rocket scientists in Clear Lake!

If you want to talk about other overlooked industries, Houston is a magnet for the legal field for Texas and the South Central U.S. Not surprised Jim Adler started his firm here instead of going back home to Dallas. Fulbright & Jaworski and Bracewell (formerly "& Giuliani") are HQ in Houston.

Wouldn't put too much on tech (and Austin). Looks like the "dot.com" bust is back on the 20-year cycle again. Everybody was bullish on WFH being a permanent fixture (with tech industry benefiting), but back-to-the-office is the post-COVID reality. Then Netflix triggered a domino effect with entertainment. Looks like VCs are running out of money with the Fed raising interest rates.

https://finance.yahoo.com/news/tech-...175749210.html



I call him MediocrePlanner because of the contradictions.



Rising real estate prices have a different effect in Texas: increased property taxes (the majority of the tax revenue stream). That has caused an outcry that the Republican Legislature enacted more valuation reforms recently.
"Tech tends to be slave wage when divided by the hours (actually) worked and DFW white-collar office jobs tend to be semi-skilled positions (think paper pushers)". As someone who works in finance funding Texas businesses, my job requires analysis of trends in all of the big Texas markets. You are simply wrong.
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Old 05-23-2022, 11:07 PM
 
11,800 posts, read 8,008,183 times
Reputation: 9945
Tech wages depend largely on skill set and what you’re doing. Slave wage are lower tier roles or employees who do not possess a lot of experience and/or skillsets. Wages increase exponentially depending on your role in tech. High level operations, security, and of course DevOps/NetOps are going to pay significantly more than day to day tech support, lower level operations. The beauty with tech is it has an extremely high salary cap.

DFW does have software engineering roles, a plethora of Network Operations / Admin roles… those will pay in the ballpark of $80k - $150k.

There are slave wage roles that pay less than $80k and require you to be on call and work 7 days a week… but there are also plenty of laid back 5 day 40 Hr work week roles that pay well into the six figure range as well.
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