Outgrowing a home vs. Growing into an Ego

[memebag]

LOL

[TheNiche]

That's the spirit. This will just be a slowdown.

HedwigTramp is probably right.

Here's my real estate jargon of the day: "Flight to Quality"

[memebag]

Here's my real estate jargon of the day: "Flight to Quality"

Here's mine: "Cash is king."

[RedScare]

Here's mine: "Cash is king."

Heh. Mine too. Day 1,276 without a credit card.

[TheNiche]

Here's mine: "Cash is king."

Yours supports mine. Those who have it fly where? ...to quality, that's where.

[memebag]

Yours supports mine. Those who have it fly where? ...to quality, that's where.

You think there are enough people with cash on hand to buy all of those quality houses? I don't.

[TheNiche]

You think there are enough people with cash on hand to buy all of those quality houses? I don't.

No, not all of them. But that's what I mean. Only the best of the best neighborhoods are insulated.

It works that way with commercial real estate, too, as cap rates decompress. It is linked to that owners of such properties are typically more insulated from panic selling or foreclosure than owners of properties of lesser value, thus constraining any increase in supply relative to lesser neighborhoods. Of the relatively fewer properties in the best neighborhoods that do get listed, there is still a market. Not a huge market that would support the continued rise in property values that had been experienced previously, but enough to maintain pricing.

This should be especially true in Houston, as we are creating jobs at a rate faster than any other city in the country. For instance, Phoenix lost 43,200 jobs in the last twelve months, Atlanta lost 33,600, and Los Angeles lost 53,200; we gained 55,700. We even inched out Dallas, which gained 54,300. All these people need to live somewhere, and a lot of them make really good money. Add to that that our rental rates are still relatively stable and that they were never as disconnected from the cost of ownership as had become the case elsewhere in the country, and our experience really just doesn't look so bad. It's easier to maintain pricing in the very best of our neighborhoods when our local economy is still growing.

[flipper]

This should be especially true in Houston, as we are creating jobs at a rate faster than any other city in the country. For instance, Phoenix lost 43,200 jobs in the last twelve months, Atlanta lost 33,600, and Los Angeles lost 53,200; we gained 55,700. We even inched out Dallas, which gained 54,300. All these people need to live somewhere, and a lot of them make really good money. Add to that that our rental rates are still relatively stable and that they were never as disconnected from the cost of ownership as had become the case elsewhere in the country, and our experience really just doesn't look so bad. It's easier to maintain pricing in the very best of our neighborhoods when our local economy is still growing.

Simma down Niche,

You are harshing the PANIC! mellow.

flipper

[memebag]

You are harshing the PANIC! mellow.