Some enter CRE by accident and happenstance, and some with firm idea of what they want to do. We must always work with clients who want to see us get paid, and we should not be shy to filter out time-wasters, and we should ‘fire’ clients when warranted. Huge changes have come to our industry with time-saving technology, but it is interpersonal relationships which remain the most important to be successful in CRE. Click to read more at www.REDNews.com .
Category: 2019
CCIM January Luncheon
Speaker: Patrick Jankowski, Sr. V.P. Research-Greater Houston Partnership
Takeaway: No recession in sight for the Houston or for the national economy.
• Oil prices need to find their ‘sweet spot’ for both the Houston and the national economies
• ‘Recession’ is defined as two consecutive quarters of negative growth-in spite of the negative things in the news these days, a recession does not appear to be indicated any time soon
To read more click here .
Houston’s Economy in 2019: “Sorting Out the Right Path Forward as Growth Returns”
With some mildly qualifying caveats in selected commercial real estate segments, the overall light is green in Houston’s economy for 2019.
• Economic growth in Houston was very weak 2014-17 but the economy
was sustained by fracking momentum, a Ship Channel chemical
boom, and post-Harvey retail and construction
• Job losses matched the ‘80s here during recent oil downturn, but
have stabilized without a big upward bounce
• Nine service sectors carried our economy post-slump: retail, health
care, finance, bars & restaurants, local gov’t, private education, state
gov’t, arts and entertainment, lodging. Click to read more at www.rednews.com .
O’Connor & Associates Retail Forecast
Takeaway: Leasing and development and investment sales in this segment are beginning to show signs of slowing, but not flattening out, whether inside or outside the Loop. Growth in rents and
prices in general is projected to continue, albeit at a slightly lower rate than in recent years.
• Huge price increases inside the Loop in leasing and sales, due to increased desire for ‘urban living’ by empty nesters and Millennials, aided by strong growth of mid- and high-rise residential units
• Reducing commuting time by living ‘closer to the action’ has a high appeal, plus ‘having fun right where you live’
• As some big box stores exit the scene, they are tending to be replaced now with entertainment, fitness, or restaurant tenants… not traditional clothing stores
To read the PDF click here