Welcome!

@CloudExpo Authors: Pat Romanski, Automic Blog, Liz McMillan, Elizabeth White, Nate Vickery

News Feed Item

3 Reasons Why Houston's Housing Market Could Survive the Fiscal Cliff

LOS ANGELES, Dec. 3, 2012 /PRNewswire-iReach/ --

Houston's housing market is one of the strongest in the country, and it continues to show growth each month. Just last week, the Houston Association of Realtors reported that sales were up for the 17th straight month, and inventory shrunk to a level not seen since 2001. Plus, experts say Houston's builder confidence is at its highest point since 2006. In fact, according to the consulting firm Metrostudy, Houston-area builders have built 9% more homes during the first nine months of 2012 than they did in all of 2011. But there's a looming cloud over the economy, and it could affect the housing market as well. The so-called "fiscal cliff" could send the economy spiraling downward into another recession if Congress doesn't act fast. While experts differ on the severity of impact the tax increases and federal spending cuts will have on the national economy, local economists say Houston may not feel the impact as much as other metropolitan areas. Why? Economists from the Texas A&M Real Estate Center (located about 90 miles outside of Houston) say there are three reasons why:

Predictions for the 2013 housing market

1. Smart building

Houston certainly is not immune to the effects of a recession, but it wasn't hit as hard the last time the economy crashed. Why? Unlike other metropolitan areas around the country, Houston never experienced an overbuilding period. In those other big cities, builders continued to build homes, even though the demand for them decreased. The housing market in those cities became saturated with properties that nobody wanted to buy, and when the economy crashed, there were even fewer prospective buyers shopping the market. In Houston, it was more of a controlled growth, so the available home inventory was never astronomically-high, like it was in other places. Since Houston has a lower inventory of available homes, there will be more competition among prospective buyers to purchase homes, meaning sales prices will increase.

How home buyers can get the best bang for their buck

2. More jobs

Areas with industry-specific jobs seem to handle a recession better than towns and cities that do not. If the economy falls into another recession, Houston's housing market will still be strong because there are jobs available here. Remember, wherever there are jobs, there are home sales. Houston and the surrounding suburbs are home to many companies in the energy industry, which is pretty recession-proof. After all, regardless of how bad the economy gets, people around the country still need electricity and fuel sources. They still need heating and air conditioning in their homes, and they still need gas in their cars. If anything, a recession triggers more work in the energy industry, as researchers try to find more environmentally-friendly and cost-effective ways to provide their services.

Black friday lef to higher mortgage rates

3. Fewer foreclosures

We've already established that Houston has fewer homes available for sale and more jobs than similar-sized cities. For these two reasons alone, there are fewer foreclosures here as well. With fewer homes available, there is less of chance that someone who can't afford a home will have the opportunity to purchase one. That means a borrower defaulting on a loan is less likely to occur in Houston than in other places. Also, with steady income from a good-paying, reliable job, it's a lot less likely that homeowners will get behind on their mortgage payments. And, since builders aren't overbuilding in Houston, it's also less likely that a new home won't sell, which prevents the builder from having to eat the cost of construction. All of these reasons mean fewer foreclosures, and research from the Foreclosure Information and Listing Service supports that assumption. They report that foreclosures are down in Montgomery and Fort Bend counties, and that Harris County (where Houston itself is located) is seeing the lowest number of foreclosures since the last recession began in 2008. Less inventory, more jobs, and fewer foreclosures means the future looks bright for the Houston housing market, and those are the same reasons it should survive the looming "fiscal cliff" and possible recession -- meaning you should feel comfortable saying, "Houston, we DON'T have a problem!"

Why are the texas real estate markets are so healthy?



Media Contact: Daniel Torelli RealtyPin.com, 1-(866) 960-8649, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE RealtyPin.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone in...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...