Is There A Houston Real Estate Bubble
The real estate bubble refers to the bursting of the real
estate market based on economic instability. It is what a lot of consumers worry
about prior to investing their money in real estate. Realtors believe that real
estate markets cannot crash because of several key factors. The real estate
market is based on local or micro-local economies that are more stable than the
world economy. They also believe that the real estate market is actually a
compilation of local economies that have never been down since the 1960s.
The Houston Real Estate Market has been subject to a lot of "bubble" rumors in recent years. Houston has seen a decline in its job market in the recent years, making Houston quite unpopular among professionals. Although living in Houston is fairly affordable, its lack of professional opportunities, compared to other urban areas, makes it less preferable. This may be one of the reasons behind the Houston Real Estate bubble. Local realtors, however, believe that the local economy is growing, and real estate sales have not declined significantly. This is accompanied by promising projections of more careers available in the years to come.
Real estate agents believe that the Houston real estate bubble has no basis at all, contending that real estate price appreciation rates may be considered high at almost 4 percent. Desirable neighborhoods in Houston still fetch high prices and may be sold even higher in a few years or when properties are developed further. Houston offers a little bit of everything, which makes it appealing to young families, especially with the insurgence of computer industries that are setting up facilities in Houston. The number of educational institutions in Houston that offer students a competitive edge over other areas also attracts a lot of individuals to Houston. Aside from these, Houston, despite being the fourth most populous city in the United States, has a fairly low crime rate. All these reasons make it quite improbable that the Houston real estate market will crash and never come back.
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