Saudi Arabia to lower oil prices, the houston boom is over

Maybe if this bubble pops I might be able to afford a home in Houston again....like this one!

http://www.har.com/10225-teneha-dr/sale_94942869

 

WTF??

 

And right off MLK and Airport! Great schools in the area, good ol' Sterling High...!

It's crazy, a guy I know recently sold his childhood home off of Fulton and Cavalcade for right under $200,000, the thing was dilapidated and even better, the realtors dubbed the area as "The hidden jewel of the north" lmfao

 

The tax jump is ridiculous.

 

almost done

 

I'm paying 2.40 a gallon here in the Los Angeles area (Long Beach). Was like going back in time when I moved here. Last year when I visited, it was a dollar more. Hell there are some stations I pass by that have it above 3 bucks still, but it is mostly in ritzy areas like SaMo and trust fund millenials will pay that.

 

Yea, but the bolded part is still not true. The east Houston refineries and chemical plants are not all blue collar. They have their fair share of engineers, managers, etc. And, really, the people they were talking to (process techs) are more of a hybrid of blue collar/white collar than some of the other guys at a plant like mechanics or welders.

It's fairly obvious they don't know much about either upstream or downstream industries, which is actually understandable...just don't write an article about it.

 

Houses in Houston are affordable and have always been compared to other major cities outside of Texas. It's not even close.

 

Except that house is under 300 square feet.

 

My post had nothing to do with that house.

 

I understand that, I'm actually one of the white collar workers that you're describing. But it is true that most of the growth has been with plant operators and craft workers. How you categorize operators (blue vs white) is subjective. They get their hands dirty plenty, and on the flip they have a ton of ass time as well. It varies.

Just all seems kind of nit-picky to me.

 

Certainly true if you don't mind living in the hood. Katy isn't exactly affordable, neither is Sugar Land nor Champion Forest. Clear Lake still has some very affordable neighborhoods.

 

I guess our definition of affordable differs. With dual income, it's for sure affordable in Houston and the burbs.

My wife is from Toronto. That's unaffordable. So is LA, NYC, Chicago (?), Miami. Houston is a major city yet you can still buy a house in the high 200s, 300s brand new in the city.

 

There are homes in Katy and Sugar Land that are around 200k. What price range is your definition of affordable? http://www.har.com/16415-dawncrest-way/sale_61211944 2000+sq ft home on a 5000+ sq ft lot.

 

New build at Lakes of Bella Terra is low 300s. That's affordable but not for some I suppose.

 

My mother's home in Clear Lake is 2000 sq ft on a 7000 sq ft lot, zoned in to the best schools in Houston (i.e. Clear Lake High School), in a deed restricted community, and is valued by HCAD at around $145,000.

The definition of affordable is going to vary based on income - obviously. Though I would throw in other factors such as job market and climate. LA has both better job market and climate, so that should be taken into account when discussing "affordability".

 

With the median income of the city being $44,648 I'd say that yeah, that's a bit of a stretch.

 

You do realize the median income in Los Angeles is $55,909 and $58,003 in NYC?

 

That's a pretty big house. So how much is a 2000sq ft house on a 7000 sq ft lot zoned to the best schools in Chicago, LA, and NYC? HCAD value is different from market value. You don't want HCAD to be valuing your house at market value.

 

LA is very diverse so taking the median value for LA might not be accurate as it includes ghetto type areas. At the moment, it is at $515,600 for a median home which is about 2000 sq/ft.

Move down south an hour to Orange county, it jumps to $670K