Welcome!

@CloudExpo Authors: Pat Romanski, Elizabeth White, Liz McMillan, Corey Roth, Yeshim Deniz

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
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
"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.
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
"Cloud computing is certainly changing how people consume storage, how they use it, and what they use it for. It's also making people rethink how they architect their environment," stated Brad Winett, Senior Technologist for DDN Storage, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
Digital transformation has increased the pace of business creating a productivity divide between the technology haves and have nots. Managing financial information on spreadsheets and piecing together insight from numerous disconnected systems is no longer an option. Rapid market changes and aggressive competition are motivating business leaders to reevaluate legacy technology investments in search of modern technologies to achieve greater agility, reduced costs and organizational efficiencies. ...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.