Posted on Mar 22, 2010 | Tagged in: Houston , economy
Everything is bigger in Texas and now we have a big new demographic to prove it – the Texaplex. “It's the triangular region of Texas that includes Houston, Dallas/Fort Worth, San Antonio and Austin”. Everyone is talking about the Texaplex creator, Dallas area real estate broker, and frequent blogger, David Winans and his bold new publicity venues used to generate good news about these great cities. Winans is being hailed by colleagues, community leaders, chambers and realtors as the unofficial “Cheerleader for Texas”, and with more than 100,000 views of his http://www.youtube.com/watch?v=FC16-4fh-Qc, I think he qualifies!
Posted on Mar 8, 2010 | Tagged in: economy
Money Magazine's Senior Writer Chris Isidore covered a surprising feature this week; wages are actually rising in the job market. While America has had eyes glued to the unemployment rate and lack of jobs on the market, paychecks have been getting bigger, which means personal income is rising.
This increase in consumer pockets, however slight it may be, can help boost consumer spending and create a demand that would trigger a resumed hiring status quo.
The U.S. government's monthly job report for February found the average hourly earning rose by 1.9 percent over the past 12 months.
Sung Won Sohn, economics professor at Cal State University Channel Islands said strong gains in productivity are also allowing employers to pay their skilled workers more. According to the U.S. government, productivity rose at nearly a 7% rate in the fourth quarter.
With a combined push to put 8 million citizens back to work, America's spending power could indeed restore.
Posted on Jan 20, 2010 | Tagged in: economy
The Lone Star State is far from lonely, amid the economic crisis in 2009 Texas had the biggest growth in population compared with any other state. Whether it is the stable housing market or lower unemployment rates, or the numerous activities and resources, more and more people are deciding to call Houston their Home.
“There’s no place to move other than Texas” - the sentiment of Karl Eschbach, Texas State Demographer of the University of Texas at San Antonio. While California, Nevada, and Florida populations increased due to immigration they had more of their residents relocate to other states than move in from other states. “In certain respects, Texas was the only state left standing during the last recession, so the competitors for migration kind of all went away,” said Eschbach.
Posted on Jan 19, 2010 | Tagged in: Houston , economy
A leading job search engine, JuJu.com, has recently ranked 50 of America’s Major Cities to determine how difficult or easy it is to find a job. For those looking in the Houston area the prospects are better than good. For every job posted there are only 5.96 unemployed people, helping Houston to rank at #24 on the list – leading as one of the best places to find a job in America.
JuJu is a job search engine that allows prospective employees to easily search a comprehensive list of job postings based on category, location, or company. This list is updated continuously from thousands of job postings, job boards, employer career portals and recruiter websites from all over the internet.
Posted on Jan 13, 2010 | Tagged in: economy
Forbes.com gathered economic experts Christopher Hyzy of U.S. Trust, Bernie McSherry of Cuttone & Co., and Carol Pepper of Pepper International in late December to discuss the prospective Housing Market in 2010. The three offered blunt yet hopeful future-telling, including special encouragement to young families seeking homes.
Pepper noted that she sees those in the higher end of the market waiting and expecting a market recovery, while those in distressed markets are in fact buying. McSherry stated, "the winners right now are young folks out there, young people ow are starting families," citing a 4.75% mortgage rate that morning and then comparing it to a 17% mortgage rate when he was "getting started" in his life. "Not only are prices low, but financing is available. So I think people have got to get out there and take advantage of that."
Hyzy offered that the residential market is slightly ahead of the game (over commercial property), despite taking the most pain.
To sum, the group theorized that there will be definite changes in patterns of buying and selling due to caution, but this caution is a positive, and the overall motion of the market - especially in residential property, is on the up-and-up.
Source: Forbes.com http://www.forbes.com/2009/12/29/commercial-real-estate-intelligent-investing-housing.html
Posted on Dec 22, 2009 | Tagged in: economy
The numbers were presented Dec. 14 at a GHP-sponsored event at the Intercontinental Hotel featuring a panel of economic experts.
Demand for chemicals and plastics products used in construction and manufacturing will drive growth in 2010, the report said. An upturn in Asian economies is expected to bring growth to the city's wholesale trade sector, which will add 5,200 jobs.
Other sectors expected to see a net gain in jobs are health care (2 percent gain); food services (0.5 percent) and administrative and support services, which is expected to pick up 5,400 jobs. Largely driven by gains in the public education sector, the public sector will add an additional 4,100 jobs.
Not all areas will see a recovery, however.
The report said that construction is expected to continue to lag behind other sectors. Strict lending standards has meant that ground-breaking on new commercial projects has all but halted. Job losses in construction are expected to continue at an annual rate of around 3.1 percent.
Posted on Dec 15, 2009 | Tagged in: Houston , economy
The Houston area has weathered the storm of the recession well, staying afloat by having a thriving building and housing market that can create supply to meet demand, and by diversifying industries. But the area still felt the recession and is glad, along with the rest of the country that it may be at its end as many economists and government representatives have posited. While there is no official declaration yet that the recession is over, the country looks forward in hope to improvement in our lives and financial situations.
As the future approaches and the financial winter turns to a vital spring renewal, it is good to take note of ways we can stay afloat in the future - how we can manage our money is post-recession season. Here are some suggestions to help individuals and families as we move forward:
Be a Smarter Consumer
As Dave Ramsey would say, "Act Your Wage" - this means spending only the money you have to spend. During the recession many consumers found themselves facing foreclosure and carrying more debt than they could handle because they signed themselves up to spend more money than they actually had. If you are careful to watch your spending and control your expenses you will do well. Don't go back to old spending habits of buying what you can't afford by using credit or loans. Experts aren't saying to get rid of your credit cards completely, but a good rule to live by is to only purchase on a credit card if you can pay it off in full each time the bill arrives.
Beginning these new habits will help you to avoid problems the next time the economy faces a tough time.
Prepare for Emergency Situations
It is a way of life that sometimes the unexpected happens; our car breaks down, a storm blows through and tears up our house, or a family member gets sick and needs medical care, or someone in the family becomes unemployed as we've seen so clearly during the recession. But we don't have to face these situations completely unprepared. More and more Americans are putting money into savings to prepare for emergencies and to have a cushion. They are no longer spending all of their monthly income, but are putting some away for that "rainy day."
Posted on Nov 23, 2009 | Tagged in: economy , business
The Piazza is the landscaped middle part of the Vintage Park shopping center. Retail analysts say opportunities for local independent retailers to snare prime locations are excellent now.
In early 2007, Rob Sherer approached Market Street in The Woodlands to see about launching in the center his comfort footwear concept, All About Feet.
There wasn't much interest, Sherer says, so he opened his first store in the Vintage Park shopping center in northwest Houston.
Posted on Nov 19, 2009 | Tagged in: economy
Texans on the whole are more optimistic about their financial future than the majority of Americans, this is according to a new survey by Citi released on November 12. The survey, which polled 500 Texas adults between September 12-15, showed that approximately 38% of Texans rated their economies as excellent or good, and 72% of Texans feel their financial situations will improve in the next year compared with 65% of Americans. For local business conditions, 67% of Texans believe they will become much or somewhat better over the next year, compared with 57% across the nation.
Still, Texans are exercising caution in their expenses, with 38% taking money out of savings and other investments to meet expenses, and 34% of citizens working longer hours to “make ends meet.” About 57% of those surveyed indicated they are waiting on those major purchases such as new cars, until things turn around. “Such cautiousness indicates the recovery could be prolonged,” said Kathleen Gibson, president of Citi Commercial Banking’s Central Division.
But there are signs and reasons to hope, especially looking at the housing market where a third drop in foreclosures may hint at recovery. The survey showed that 82% of Texans expect home values to go up or stay the same over the next year, a belief that reflects the fact that foreclosure rates are down by 3% from September. “We have not had the boom-and-bust issues a lot of markets have had,” Gibson shared.
While residents are waiting for things to turn around, their positive and ‘go-get-em’ attitudes will keep Texans at the top of their game, and they’ll be ready when things do turn around.
Posted on Nov 5, 2009 | Tagged in: homebuyers , economy
By STEPHEN OHLEMACHER Associated Press Writer © 2009 The Associated Press
Michael Conroy AP
WASHINGTON — Missed out on Cash for Clunkers? Congress has another deal for you: Buy a home before May 1 and collect up to $6,500 from the government. If you're a first-time homebuyer, get up to $8,000.
As part of the government's efforts to encourage people to spend money to help revive the economy, the House voted 403-12 Thursday to expand a popular tax credit for homebuyers. The bill, which also extends unemployment benefits and expands a tax break for money-losing businesses, now goes to President Barack Obama, who plans to sign it Friday.
