Houston vs. Dallas (Converse: amendment, 2015, hotel)

[Bobloblawslawblog]

Originally Posted by Dallaz

It's in the article.

kdogg, gave the link at the bottom of the post...

OK, so it is in the article... from the Dallas Morning News. I meant an actual, data-producing source. I'd have to fact-check that one before I buy it.

Houston's economy still weighs heavy on Energy, but it's more diverse than that. "80%" just sounds exaggerated.

[Exult.Q36]

Originally Posted by Bobloblawslawblog

OK, so it is in the article... from the Dallas Morning News. I meant an actual, data-producing source. I'd have to fact-check that one before I buy it.

Houston's economy still weighs heavy on Energy, but it's more diverse than that. "80%" just sounds exaggerated.

Here is the data backing up the source. Scroll down to page 7
http://www.recenter.tamu.edu/mdata/p...t_Sept2014.pdf

[Bobloblawslawblog]

Originally Posted by kdogg817

Here is the data backing up the source. Scroll down to page 7
http://www.recenter.tamu.edu/mdata/p...t_Sept2014.pdf

That makes more sense. Thank you.

However, I'm still not sure what the point is. It's no secret that Houston is the energy capitol of the Western hemisphere, and that until very recently, that sector was booming like crazy. Most people already know that DFW's economy is far less energy-based than Houston's is.

[TexasTallest]

Originally Posted by Bobloblawslawblog

That makes more sense. Thank you.

However, I'm still not sure what the point is. It's no secret that Houston is the energy capitol of the Western hemisphere, and that until very recently, that sector was booming like crazy. Most people already know that DFW's economy is far less energy-based than Houston's is.

Yeah, I guess they were trying to imply Dallas would somehow continue to boom on amidst the oil plunge while Houston suffers..

[TexasTallest]

Midway to begin demolishing site for future Hotel Alessandra in downtown Houston - Houston Business Journal

[Bobloblawslawblog]

Originally Posted by TexasTallest

Yeah, I guess they were trying to imply Dallas would somehow continue to boom on amidst the oil plunge while Houston suffers..

I don't know if that's what anybody was implying or not. I'll wait to hear back from them on that one. All I know is that what's happening right now in the Energy sector is a slowdown, not a bust. Anyone who thinks Houston's economy will "suffer" because of this slowdown is either paranoid or just wants to see the city fail the way it did in the late 80's (which I highly doubt anyone actually does).

Houston has experienced a massive boom in the last few years due to the Energy sector riding a huge wave. That wave has now subsided and it's time for the city to catch up on it's infrastructure. This is a good thing. Too much rapid-fire growth in a short amount of time creates a lot of problems. Houston will most likely slow down a bit, but it's not going to be another bust like the 80's were. Houston has a much more diverse economy now than it did 30 years ago. Hopefully the city uses this slowdown period to play catch-up on improvements before the next inevitable Energy boom happens again.

[TexasTallest]

Originally Posted by TURBO20

I'm very proud of Houston. In spite of the haters (in Texas, around the country, and in the jealous/hostile oil producing countries), the city has boomed and thrived continually for over 8 years. Its status in America and on the world stage has clearly been elevated, the tired unfair stereo-types of the past (employed by the haters) have met the truth and died, and the city now receives a plethora of accolades (#1 this, #1 that) and good press. On a scale of 1 - 10, it's been an extraordinary 11, operating at near maximum potential with dizzying explosive growth that has transformed the city, for the better. The oil hiccup has brought it to about a 7, and will actually allow the city to catch its breath, absorb/adjust to the new reality, and regroup as the city gets ready to turn things back up and do what it does best: boom (much to the Houston hater's chagrin).

The oil matter is of concern, but sorry Houston haters, this is not a repeat of the 80's, rather a regroup. As well, there's obvious overreaction and exaggeration regarding the matter, coming from those who wish Houston ill-will or stand to gain from hoping to stop/slow Houston down (poor haters). The economic boom may cool a bit due to this man-made dust-up in the market, some companies may shed a minor amount of jobs or decide to hold off on new hires temporarily...but make no mistake, Houston will continue to rise significantly, albeit at a more moderate rate. Houston learned an ugly lesson in the bust of the 80's. It vowed to never let that ever happen again, and has worked overtime and tirelessly the last 30+ years to fortify its flagship industry, oil/gas, to withstand these very types of hiccups...moreover, its massive economy at-large has been greatly diversified to further protect itself from these blunt fluctuations/swings...this time, Houston covered its ass, and because of its efforts it continues to boom during its "so-called" bust.

At the end of the day, the price will eventually rise and hoover at about $75 by Q4 or soon after, and the haters, pansies and chicken-little will have to accept that the sky didn't fall, after all. In the interim, it's onward and business as usual in Houston...as the city sharpens its oil/gas chops for the next great round, leans on its other powerhouse sectors, like medicine, and all the recently announced multi-billion dollar expansions breaking ground in its vast and behemoth Texas Medical Center, the world's largest. As well, the city and its filthy rich (which is ridiculously rich in Houston) can now take some time to spend some of the zillions they've made during this current boom, as they begin to transform Houston's world renowned Cultural Arts institutions with all the recently announced multi-billion dollar fine arts, museum, park and theatre district expansions. And, of course, the city can take a moment to officially welcome the legions of new citizens that have swelled an already gigantic city, as the population quickly approaches 2.5 million. The powers-that-be in politics/business/oil gave it their best shot with this man-made manufactured oil curve ball to throw Houston back to 1980, but this is Houston 2015: a new Houston. As the saying goes, "those ignorant of history, are doomed to repeat it." So ever innovative Houston forsook ignorance, learned from history, diversified and prepared...and is reaping the benefits as it still continues to rise with excellent success.

Great post! Houston will continue to thrive amidst the oil "crash".

[KerrTown]

Originally Posted by TexasTallest

Yeah, I guess they were trying to imply Dallas would somehow continue to boom on amidst the oil plunge while Houston suffers..

I would be worried about JCPenney and RadioShack failing. If American finally collapses, DFW is in big trouble.

[stoneclaw]

Mann Im in austin right now for some job training. Last time I was there in June 2014, I was so amazed with austin's downtown progress since I had last been there in 05. Needlessly to say, I left somewhat envious.

I came back to Houston on Friday night and decided to take a ride downtown was literally blown away by all the enhancements that had been made in such a short time. It wasn't even all that long ago I last went down there, like maybe a month and a half ago. Just the amount of construction happening all at once is mind boggling. The new convention center hotel is rapidly going vertical and already changing face of that side, the buildings on main street, the new lighting for central station at the light rail, Jw marriot enhancements, etc. Granted there had been an event down there like some runners marathon or something, but driving through downtown after coming back from Austin, I was expecting to feel like I did last time, major disappointment. Actually it was the polar opposite this time, downtown htown street presence is actually looking better than austin right now, pretty at night (well lit)and when all those new projects like the convention center enhancements get complete, I think it might be safe to say downtown H-town might officially wear the crown in texas.

I keep forgetting this isn't 2004, 2008, or even 2013. Houston is literally changing overnight. Even if a slowdown does happen, It won'the be for long and Houston has enough activity to keep it occupied right now, it will hardly be noticed. .

Sorry haters

[dollaztx]

Originally Posted by KerrTown

I would be worried about JCPenney and RadioShack failing. If American finally collapses, DFW is in big trouble.

I haven't been following this thread for months so forgive me if I barge in, but where are you getting that American could collapse or that JCPenney and RadioShack failing will be big trouble for DFW. All three companies have been suffering in the past years and DFW has been doing great. Out of the three RadioShack would affect us the least. If JCPenney failed it would be bad news for Plano, but that area would easily offset it with the Toyota offices and other companies moving there.

Yes American would have the biggest impact, but it and Southwest have been doing great recently especially with lower gas prices. If it ever failed I could see Southwest wanting to take over much of it's operations and maybe even move over to DFW to continue expanding its presence. If that ever happened though IAH would loose flights that SW has opened there due to it's limitations in Love Field.