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Sawyer Heights Lofts: Multifamily At 2424 Spring St.


Boris

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I thought I did. Then I backed up my argument. :mellow:

You "backed up" your argument with what you claim is old data, and a 92% occupancy rate is still not full. (Although conisdered quite healthy in the industry) Folks here are no more finacially responsible than anywhere else. But I am sure that you have access to that data as well. It may be sooner...or it may be later, but the mortgage trends of the last few years will cause its havoc locally...eventually. And all of the new apt complexes under construction or on the drawing boards are counting on it.

But it was still cute that you chose to "argue" MY post. Hooray for MiDTOWNeR!!!! "Cooopy Copy Copy!"

He's famous for his cuteness-not to mention his adeptness at slithering out of his posts.

I find it adorable! :wub:

nitchey is just pouting cause of a post i made in another thread.

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You "backed up" your argument with what you claim is old data...

Yeah, that's what historical data is. And when you plot each successive month of data up to that which is most-recently available on a line graph and look at the trend, you can make inferences about whether foreclosure rates are increasing or decreasing, and then also whether the rates of change are increasing or decreasing.

...and a 92% occupancy rate is still not full. (Although conisdered quite healthy in the industry) Folks here are no more finacially responsible than anywhere else. But I am sure that you have access to that data as well.

Vacancy is a good thing as far as consumers are concerned. It fosters competition between complexes, sometimes resulting in lower rental rates, but more often in significant concessions. There was a time that the Alexan Lofts were offering three months of free rent on a 13-month lease in addition to a free plasma screen TV; that was the most extreme concession I've ever seen, but at that time, many apartment complexes were offering significant concessions. You won't see that kind of thing anymore because vacancy has declined.

Moreover, a little bit of excess inventory allows the Houston economy to ramp up more quickly in times of economic boom; this played out between 2003 and present. Imagine if we suddenly had an immense demand for more workers, but had no place to put them for a year and a half while we built new capacity.

And in the mean time, if developers build a bit of excess inventory, they're still creating the jobs associated with managing and maintaining the complexes; hence a redistribution of wealth from the investor class to the middle class. I'd think that you'd like that aspect of keeping excess inventories.

It may be sooner...or it may be later, but the mortgage trends of the last few years will cause its havoc locally...eventually. And all of the new apt complexes under construction or on the drawing boards are counting on it.

You put this statement out there with no evidence to back it up. Upon what do you base your opinions?

But it was still cute that you chose to "argue" MY post. Hooray for MiDTOWNeR!!!! "Cooopy Copy Copy!"

nitchey is just pouting cause of a post i made in another thread.

Which thread?

He's famous for his cuteness-not to mention his adeptness at slithering out of his posts.

I find it adorable!

Slithering? :huh:

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  • 4 months later...

When I went to Target yesterday I noticed a sign on the fence next to the trailor where the lofts are being built. The sign said they will be finished in summer 2007... does that seem right? I don't know exactly how long it takes to build a development like this... but that's only a couple months away. :huh:

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When I went to Target yesterday I noticed a sign on the fence next to the trailor where the lofts are being built. The sign said they will be finished in summer 2007... does that seem right? I don't know exactly how long it takes to build a development like this... but that's only a couple months away. :huh:

They might start leasing in the summer months, but that doesn't necessarily translate into physical occupancy. Having said that, they already have done a lot of the structural concrete work with the parking garage, and the remaining stick construction goes up pretty quick.

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They might start leasing in the summer months, but that doesn't necessarily translate into physical occupancy. Having said that, they already have done a lot of the structural concrete work with the parking garage, and the remaining stick construction goes up pretty quick.

Yea, it seems like the parking garage is pretty much done... or at least close to getting done. I don't remember exactly what the sign said w/ regard to Summer 2007... but I could have sworn it was something along the line of "ready for occupancy"... I could be wrong, though.

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When I went to Target yesterday I noticed a sign on the fence next to the trailor where the lofts are being built. The sign said they will be finished in summer 2007... does that seem right? I don't know exactly how long it takes to build a development like this... but that's only a couple months away. :huh:

THey look similar in style to the conplexes being built in midtown. Those have gone up in a matter of months, so it seems perfectly feasible that Sawyer Heights could be ready for residents by June.

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